An affiliate Equus Capital Partners Ltd., a national real estate investment manager, has completed the acquisition of a two-building, 299,241 square-foot industrial center located in Lakeland, for $38 million.
The property, at 900 & 920 N. Chestnut Road, is located 4.2 miles from Lakeland Linder International Airport. The buildings were built in 2021 and were developed to today’s Class A specifications.
The property was 100% leased, at the time of acquisition, with two tenants including Gruma, a subsidiary of food manufacturer Mission Foods and Safelite, a subsidiary of vehicle glass repair company, Belron.
The investment was made on behalf of a programmatic joint venture between an affiliate of Equus and a U.S.-based public pension plan. The seller, an affiliate of High Street Logistics Properties, was represented by Frank Fallon and Jose Lobon of CBRE.
