Tuesday, January 9, 2018

Marcus & Millichap Arranges $4.975 Million Sale of Lakeland, FL Plant Property

Paul Bouldin
LAKELAND, Fla., Jan. 9, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Lakeland Plant Property, a 26.3-acre industrial land in Lakeland, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $4,975,000.

Paul Bouldin, an investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Bouldin.

 At the time of this closing, the 26.3-acre Lakeland Plant Property consisted of 15 vacant acres. The office warehouse building on the property contains approximately 85,575 rentable square feet.  The same tenant has leased the building since 2003.

“This transaction allowed the seller to reposition their assets at a value well above the current revenue. Simultaneously, the buyer infused new capital, offer the tenant significant expansion options, and secure a new long-term lease.

The buyer plans to immediately remarket the property with a new triple-net credit lease in place and 10-15 acres for the development of industrial space at the intersection of I-4 and the Polk Parkway,” says Mr. Bouldin.

The property is 30 minutes east of downtown Tampa and is one hour west of downtown Orlando and ideally located at the southeast intersection of Interstate 4 and the Polk Parkway (Toll Road 580) at 4500 Frontage Road South, Lakeland, Florida, in eastern Polk County.

 For more information on this transaction, please contact:

Ari Ravi
Regional Manager, Tampa
(813) 387-4700


Rachel Jean-Pierre
Marketing Coordinator
Marcus & Millichap
4030 W. Boy Scout Boulevard
Suite 850
Tampa, FL 33607
(813) 387-4743 direct
(813) 387-4700 main
(813) 387-4710 fax

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