DALLAS DEVELOPER PLANS $39M SPEC WAREHOUSE IN LAKELAND
Dallas Developer Plans $39M Spec Warehouse in Lakeland
(May 24, 2018)
A Dallas developer focused on building modern warehouses for the eCommerce era has acquired property in Lakeland, where it’s planning a 533,000-square-foot industrial facility.
Xebec said Thursday that it has purchased 60 acres north of Interstate 4 – two miles from the Lakeland Hills Boulevard exit at 8355 State Road 33. It has hired CBRE Group Inc. to market the warehouse to tenants and will break ground in the fourth quarter speculatively if no tenants have been signed.
The developer is targeting retailers, distributors and third-party logistics companies for the warehouse. That’s a hot market in Lakeland; a warehouse that broke ground speculatively and landed a Gatorade distributor as a tenant recently sold for $59.6 million.
“This is a premier location that is home to companies like Walmart, Coca-Cola, Amazon, Publix Supermarkets and more,” Randy Kendrick, founder and CEO of Xebec, said in a statement. “We believe there will be strong tenant demand for the project because of the limited supply of high quality facilities of this size in the region, and its vital location to reach consumers across the Southeast.”
The building should be complete by the third quarter of 2019. It will have a 40-foot clear height and a 185-foot truck court with 114 docks, 368 automobile parking spaces and 102 container parking spaces, Xebec said. Xebec has more than 6.5 million square feet of industrial space under development across the U.S.
Lakeland is an attractive logistics market because warehouse users are within a day’s drive of Miami and Atlanta. There are 19 million consumers with a 200-mile radius, and the Xebec warehouse will be within a one-hour drive from three international airports.