Equus Capital Partners has successfully acquired a two-building industrial center in Lakeland, FL for $38 million. The property spans 299,241 square feet and was fully leased at the time of purchase. This investment was made on behalf of a joint venture between Equus and a U.S.-based public pension plan. The seller, High Street Logistics Properties, was represented by CBRE’s Frank Fallon and Jose Lobon.
The industrial center is located at 900 & 920 N. Chestnut Rd in Lakeland, just off West Memorial Blvd (also known as U.S Route 92) which connects the East and West coasts of Florida over an impressive distance of 181 miles. These buildings were recently constructed in 2021 and are currently occupied by two tenants: Gruma (a subsidiary of food manufacturer Mission Foods) and Safelite (a subsidiary of vehicle glass repair company Belron).
According to Tim Feron from Equus Capital Partners: “Lakeland’s strategic location near I-4 makes it an ideal distribution hub serving the entire state.” With its central location providing easy access to major highways like I-4, this acquisition is expected to be a successful addition to Equus’ portfolio.
