Updated Oct 12, 2026
Ashley Furniture Industries Acquires 705K SF Industrial Facility In Lakeland For $71M
1415 Winston Park Boulevard
$71,000,000
$100/SF
Building Size
705,000 SF
Asset Type
Industrial
Closing
May 29, 2025
About this deal
AI
A 48-acre industrial asset located at 1415 Winston Park Boulevard in Lakeland has been sold for $71,000,000. The facility encompasses 705,000 square feet, resulting in a price per square foot of $101.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $71,000,000
- Buyer: Ashley Furniture Industries
- Seller: Jim Heistand - Parkway; Kaushik Amin - Silverpeak
- Brokers: David Perez, Jared Bonshire, Lisa Ross, Trey Carswell, Taylor Zambito & Ryan Hubbard - Cushman & Wakefield
- Lender: Wells Fargo
- Sale Price: $71,000,000
- Square Feet: 705,000
- Price per Square Foot: $101
The transaction involved Parkway and Silverpeak selling the industrial facility to Ashley Furniture. Proceeds from this sale are designated to support the second phase of the 740-acre Lakeland Central Park, which includes a 260,000 square foot speculative project and new infrastructure connecting to I-4.
On the Map
$71,000,000
$100/SF
Industrial
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Players
Lakeland Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93