BBX Logistics Properties, FRP Development Corp Announce Plan To Develop Over 200,000 SF Logistics Park

BBX Logistics Properties and FRP Development Corp announced the formation of a joint venture to develop BBX Park at Lakeland consisting of approximately 213,500 square feet of state-of-the-art logistic facilities on 22.5 acres in Lakeland.

Both companies are full-service real estate development firms and this venture marks a significant milestone in the expansion of logistics infrastructure in the region.

“Embarking on this project in Lakeland reflects our commitment to innovation and excellence in industrial real estate development,” said Seth Wise, President of BBX Capital Real Estate and Chairman of BBX Logistics Properties. This development comes on the heels of our announcement of BBX Park in Delray Beach and builds on our strategy to invest in Class-A logistics facilities in strategic locations.”

“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,” said Mark Levy, President of BBX Logistics Properties. “Our project will be highly flexible and cater to tenants seeking a centralized last mile distribution location on the I-4 Corridor.” 

BBX Park at Lakeland, located at 8255 State Road 33 N, is in what we believe is a highly desirable location directly north of I-4 and south of SR-33, offering both visibility and convenient access to major transportation arteries. With its prime location within 50 miles of both Tampa and Orlando, the park is poised to become a pivotal hub for logistics operations in Central Florida.

The initial phase of construction is expected to commence in the fourth quarter of 2024 with completion and occupancy anticipated in 2025. Leasing will be handled by Kris Courier, Senior Vice President of CBRE’s Industrial Services brokerage team based in Tampa.

“We are thrilled to partner with BBX Logistics Properties in the development of this Class A, best-in-class industrial development in Lakeland, Florida,” said David deVilliers, III, Executive Vice President of FRP Development Corp. “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. Together, we look forward to delivering a world-class facility that will serve as a cornerstone for logistics excellence in Central Florida.”