Parkway, Silverpeak Sell Major Lakeland Industrial Property, Paving The Way For Expansion

Parkway and Silverpeak Real Estate Partners have completed the sale of LCP 200, a large industrial building totaling 705,000 square feet in Lakeland Central Park, for $70.5 million. The buyer is Ashley Furniture, one of the largest home furniture manufacturers and retailers in the world.

The sale was brokered by Cushman & Wakefield‘s Jared Bonshire, David Perez, Taylor Zambito, Ryan Hubbard, Lisa Ross, and Trey Carswell, who represented Parkway in the transaction.

This strategic sale marks a significant milestone for Parkway, as it triggers the next phase of growth for Lakeland Central Park. Highlights of the expansion include:

• Construction of LCP 300: A new, 260,000-square-foot speculative industrial facility featuring a cross-dock design.
• Fully Pad-Ready Sites: With Phase 2 now underway, all remaining sites in the park will be pad-ready, enabling faster development timelines. Site sizes range from 162,000 to 1.65 million square feet.

Once fully developed, Lakeland Central Park will offer up to five million square feet of industrial space, positioning it as a major logistics and distribution hub in Central Florida.