Logistics giant closes on Lakeland warehouse that will house IKEA fulfillment center
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Nov 29, 2018

Logistics giant DHL Supply Chain has closed on a Lakeland warehouse that it will operate as an ecommerce fulfillment center for Swedish housewares giant IKEA.

DHL paid $42.5 million for the 520,000-square-foot warehouse, which started construction earlier this year. IKEA announced its plans for the fulfillment center in August. The IKEA operation will occupy more than 320,000 square feet in the warehouse; it is expected to open in December.

The developer of that warehouse - a joint venture between Blue Steel and PCCP LLC - told the Tampa Bay Business Journal that DHL was under contract to buy the building in August. The building is part of Key Logistics Center and two other warehouses there are under construction: a 491,000-square-foot warehouse expected to be complete in February, and a 349,000-square-foot warehouse slated for completion in May.

Commercial real estate brokers Ryan Vaught and Robyn Hurrell, who were with JLL at the time of the sale, represented the developer in the transaction. Vaught and Hurrell have since moved to Colliers International Tampa Bay.

Transwestern senior managing director Walter Byrd represented DHL.

Vaught and Hurrell are marketing the forthcoming buildings in Key Logistics Center for lease and sale.

"Distribution centers like this one along the I-4 corridor in Lakeland give companies the capability to get their products from warehouse to doorstep in a matter of hours,” Vaught said in a statement. "And that's important in matching today's customer expectations for speed of delivery.”