JLL Capital Markets closed the sale and financing of Building 100, a 464,400-square-foot, cross-dock distribution facility at Pace Logistics Center in Auburndale.
JLL represented the seller, Intersect Development Group, in the sale of the property. JLL also worked on behalf of the new buyer to secure the acquisition financing.
Completed in 2023, Building 100 is a state-of-the-art facility that offers 40-foot clear heights, a 60-foot speed bay, dock levelers, 450-foot building depth and a 185-190-foot truck court.
The 30-acre site is located at 1234 Pace Rd. within a strong industrial submarket in the I-4 corridor of Polk County. The property is equidistant between Tampa and Orlando with convenient access to Interstate 4 as well as State Routes 557 and 33. The Polk County industrial market has only a 3% vacancy rate with growing rents and strong historical absorption.
The JLL Capital Markets Investment Sales and Advisory Team representing the seller was led by Managing Director Luis Castillo, Senior Managing Director Britton Burdette, Director Cody Brais and Analyst Taylor Osborne. The JLL Capital Markets Debt Placement Team representing the new owner was led by Managing Director Paul Spellman, Senior Director Taylor Allison and Analyst Emma Buch.
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