Ashley Furniture Industries Acquires 705K SF Industrial Facility In Lakeland For $71M

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.