**Parkway and Silverpeak Sell 705K-SF Lakeland Warehouse for $70.5M**
Parkway and Silverpeak Real Estate Partners have sold LCP 200, a 705,000-square-foot industrial building located within Lakeland Central Park in Lakeland, Florida, for $70.5 million. The buyer is Ashley Furniture, a major player in the home furnishings industry.
Strategically situated along Polk Parkway, LCP 200 is a key asset in the rapidly growing industrial corridor of Central Florida.
The transaction was brokered by a Cushman & Wakefield team that included Jared Bonshire, David Perez, Taylor Zambito, Ryan Hubbard, Lisa Ross, and Trey Carswell, who represented Parkway in the deal.
The sale marks a significant milestone for Parkway as it accelerates the development of the next phase of Lakeland Central Park. The forthcoming expansion will include:
– **LCP 300**: The construction of a new 260,000-square-foot cross-dock industrial facility.
– **Pad-Ready Sites**: Upon the completion of Phase 2, all sites within the park will be pad-ready, expediting vertical development. Site sizes will accommodate facilities ranging from 162,000 square feet to as large as 1,650,000 square feet.
At full build-out, Lakeland Central Park is set to offer up to five million square feet of industrial space, further positioning the area as a logistics and distribution hub.
