LAKELAND, FL-Rooms To Go has renewed its 185,000-sf distribution center lease at the 100%-leased, 600,000-sf Lakeland Industrial Center, according to the Tampa office of Cushman & Wakefield of Florida Inc. Houston-based Weingarten Nostate Inc. owns the 100%-leased property.
Cushman & Wakefield brokers, who represented the owner, declined to disclose the length or value of the transaction at the 16-year-old property. However, area brokers familiar with this Polk County submarket tell GlobeSt.com the lease is probably for at least 10 years at an effective rent of about $3 per sf. That would make the estimated aggregate value of the lease about $5.5 million, brokers tell GlobeSt.com.
Twenty-five miles west of Lakeland, in Tampa, Weingarten also closed on the purchase of Tampa East Industrial Park, a 512,923-sf warehouse, just north of US 301 and State Road 60. Weingarten paid Anderson/Tampa (II) Joint Venture $24.1 million, or $46.99 per sf, for the 100%-occupied property.
Also in Tampa, First Industrial LP of Chicago sold its 179,494-sf Breckenridge Park office building at 5905-5912 Breckenridge Parkway for $14.85 million or $82.73 per sf. The buyer was ACP/Breckenridge Owner 1 LLC, c/o America's Capital Partners, a Miami-based private real estate firm.
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