Transwestern Development Company (TDC®) and its joint venture partner, QuadReal Property Group, announced plans to develop a 943,426-square-foot warehouse on a 64-acre parcel off Interstate 75 and exit 341 in Ocala. Construction will commence in November 2021 and the property is expected to deliver in the fourth quarter of 2022.
One of the largest speculative warehouses to ever be built in Florida, Trailhead Logistics Park is designed to meet the needs of big-box users in a region with limited availabilities for large blocks of industrial space. The project features cross-dock design, tilt-wall construction, 40-foot clear height, ESFR sprinklers, and ample car parking and trailer storage.
“Ocala’s connectivity to Florida’s major highway systems provides convenient access to the state’s 21 million consumers, making it an ideal fit for a company expanding its logistics operations,” said Steve Kros, Regional Partner at TDC. “Equally important, the market’s demographics can comfortably meet the labor requirements of a large distribution center in this surging market.”
Located 15 miles south of downtown Ocala, Trailhead Logistics Park is in driving distance of Tampa, Orlando and Jacksonville. Upon completion, it will add to Central Florida’s 260 million square feet of industrial inventory occupied by users including Amazon, Walmart, Dollar Tree, Ace Hardware, Chewy.com, Best Buy, Medline, Home Depot, PepsiCo, HCA Healthcare and Publix.
In 2020, the Central Florida region’s industrial market posted 10.7 million square feet of positive net absorption. As of third quarter of 2021, the vacancy rate stands below 6%.
Recently, TDC sold University Park at Bridgewater, a 713,000-square-foot warehouse at 6200 State Road 33 N. in Lakeland, Florida. Boston-based AEW Capital Management purchased the property, which was 100% leased to HCA Healthcare, underscoring investor demand for modern, large-block warehouse and distribution space in Central Florida.
At present, TDC has 34 industrial projects totaling 18.4 million square feet under construction or in pre-development planning stages nationwide, including more than 5 million square feet in the Southeast.
Jared Bonshire, David Perez and Taylor Zambito with Cushman & Wakefield and Bartow McDonald IV with SVN Florida are overseeing leasing efforts.
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