BBX Logistics Properties, FRP Development plan Lakeland industrial park
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Apr 9, 2024

A joint venture of developers with Florida ties plans to build a Lakeland industrial park targeting last-mile delivery tenants.

BBX Logistics Properties, based in Fort Lauderdale, and FRP Development Corp., which has offices in Jacksonville and Baltimore, said they plan to begin construction this fall on the 213,500-square-foot park. The project will occupy 22.5 acres directly north of Interstate 4, across State Road 33 from an Amazon.com Inc. fulfillment center. It is 50 miles from both Tampa and Orlando.

An entity linked to BBX paid $2.8 million for the land on March 19, Polk County property records show. A BBX spokesperson said the total investment is around $25 million.

“This acquisition of the Lakeland property and the formation of this joint venture is the culmination of an outstanding effort by our team to identify best-in-class infill logistics assets,” Mark Levy, president of BBX Logistics Properties, said in a statement. “Our project will be highly flexible and cater to tenants seeking a centralized last-mile distribution location on the I-4 corridor.”

CBRE’s Kris Courier will market the property for lease. It is slated for completion in 2025.

“This venture underscores our shared commitment to driving economic growth and innovation in the region and expanding our industrial reach from the Mid-Atlantic to Florida,” David deVilliers III, FRP executive vice president, said in a statement. “Together, we look forward to delivering a world-class facility that will serve as a cornerstone for logistics excellence in Central Florida.”