CRESCENT COMMUNITIES CLOSES ON FIRST INDUSTRIAL COMMUNITY IN FAST-GROWING LAKELAND, FL

  • 07/13/2020

Crescent Communities is pleased to announce the closing of land and commenced construction for a new industrial project—Lakeland North Business Center in Lakeland, Florida. This is the team’s first in the area in partnership with Native Development Group.

“The partnership behind this project feels like old friends coming together,” says Joseph McGorrey, Principal of Native Development Group and former Crescent Communities employee. “Lakeland North Business Center’s shallow-to-medium bay size is something new and unique for the rapidly-growing Lakeland location. It will inevitably expand the types of businesses moving to the area and bring more diversification to the market.”

The premier rear-load warehouses and distribution facilities sit on 28 acres at 900 and 902 N. Chestnut Rd and will offer two commercial buildings, totaling 299,241 square feet, with 32’ clear height and dock-high loading, as well as 89 trailer parking spaces and 247 car spots. Crescent Communities has begun construction, with the forthcoming community now available for lease and interior office build-to-suit opportunities. Delivery of Lakeland North Business Center is expected in Q3 2021.

“Lakeland North Business Center will be a tremendous investment for Crescent Communities and the first of many future industrial projects in Central Florida,” says Crescent Communities Senior Managing Director, Brendan Pierce. “We recognize the I-4 corridor in Florida is one of the fastest-growing regions in the United States, and we intend to be a part of this dynamic market.”

Lakeland North Business Center is strategically positioned in an up-and-coming area of Central Florida – often referred to as an “inland port” – along Interstate 4, 30 miles northeast of Tampa and 45 miles southwest of Orlando. This region has experienced economic and population growth far outpacing national trends. Located in the center of Florida’s peninsula, the shallow-bay industrial site has access to 20 million people within a five-hour drive, and a population of 8.8 million within a 100-mile radius making it well-suited for a regional distribution hub. The growing market is anchored by nationally recognized companies including the Publix Super Markets headquarters, and strong leasing activity by Amazon, Walmart, IKEA, and UPS. The building has multi-tenant capabilities; last mile companies will find it appealing due to its size and ideal location.

For additional information, please visit www.lakelandnorthbc.com.

For leasing information, contact Rick Narkiewicz, SIOR with Newmark Knight Frank at rnarkiewicz@ngkf.com.

About Crescent Communities:
Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of industrial, office and mixed-use communities. We create high-quality, differentiated multifamily and commercial communities in many of the fastest-growing markets in the United States. Since 1963, our development portfolio has included more than 59 multifamily communities, 21 million square feet of commercial space and 60 single family master-planned communities. Headquartered in Charlotte, Crescent Communities has regional offices in Washington, DC, Atlanta, Orlando, Nashville, Dallas, and Denver. Our multifamily communities are branded NOVEL by Crescent Communities.

About Native Development Group:
Native Development Group, LLC invests and develops institutional-quality, speculative, and build-to-suit office and industrial projects in the Southeast. Recent projects include last-mile distribution and forward-thinking, ground-up office environments. The principals of Native Development Group have developed over $2.5 Billion of office, industrial, and special use facilities over a 30 year career. The Company’s pragmatic, personal, and disciplined approach to its projects attracts national joint venture development partners and tenants.