**Parkway and Silverpeak Commence Second Phase of Lakeland Central Park Expansion**
Parkway and Silverpeak have officially broken ground on the second phase of Lakeland Central Park, initiating a major expansion of the large-scale industrial development. The full project represents a $750 million investment and spans 740 acres, with plans to deliver up to five million square feet of Class A industrial space.
Key highlights of the expansion include:
– **New Industrial Facility (LCP 300):** A 261,000-square-foot cross-dock industrial building is under construction at 1735 Winston Park Boulevard. Berkadia secured a $40.67 million construction loan to finance the facility.
– **Pad-Ready Sites:** With Phase 2 infrastructure now complete, all parcels in the park are development-ready. These sites range from 162,000 to 1,650,000 square feet, allowing for quicker delivery times for prospective tenants.
Parkway and Silverpeak acquired the site through an off-market transaction in December 2019 and have since followed a phased development strategy. The first phase included the development of infrastructure and the delivery of a 705,000-square-foot Class A cross-dock facility, known as LCP 200, which was recently sold to Ashley Furniture.
