ORLANDO—Central Florida's industrial market continues hitting on all cylinders, thanks to several key factors that are essentially creating the perfect storm. But what are those factors exactly? And what is the next big thing for industrial in the Tampa Bay area?

GlobeSt.com caught up with Kostas Stoilas, a senior associate at CBRE Industrial & Logistics in Tampa, to get his thoughts. Be sure to stay tuned to part two of this exclusive interview, in which he will discuss why Plant City is getting so heated on the industrial front.

GlobeSt.com: What are the main factors are driving Tampa Bay's industrial market?

Stoilas: Growth in Central Florida is driven by our population growth. Florida is now the third most populous state in the US and if you look at the major cities within the state you will easily see that Tampa and Orlando keep growing closer and closer.

What lies in the middle of this future megalopolis is the Interstate 4 corridor and a multitude of development sites along that route that will not only serve the growing local consumer base, but will also be hubs to distribute from in order to serve our national consumer base as well. It all starts with the trade that comes through our seaports, the business that flies into our airports, and the goods that travel on our roadways to supply chain nodes along the way.

GlobeSt.com: What do you expect to be the next "big thing" for industrial?

Stoilas: Lakeside Station Logistics Park is a 1,400-acre development site that is well located in Plant City, the eastern part of Hillsborough County, as an opportunity for industrial users. CBRE is working hand-in-hand with the Plant City Economic Development Corp. to promote the commercial and industrial growth that is happening along the Interstate 4 corridor.

The site is located approximately 15 minutes outside of the county's core industrial market in East Tampa. The property is entitled for development of more than 10 million square feet of industrial and mixed-use product. Lakeside Station is one of the few sites with the capacity to create a master-planned industrial park for the future of big box distribution, manufacturing and light assembly.