Updated Sep 30, 2025
Brookfield Properties Acquires Industrial Property In Lakeland For $27.3M
2929 Old Tampa Highway, Lakeland, FL 33803, USA
$27,300,000
$129/SF
Building Size
211,113 SF
Asset Type
Industrial
Closing
Dec 13, 2021
About this deal
AI
The industrial property located at 2929 Old Tampa Highway in Lakeland has been sold in a recent transaction. The property, spanning 211,113 square feet, was sold at a price of $27,300,000, resulting in a price per square foot of $129. The sale took place on 12/13/2021.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $27,300,000
- Address: 2929 Old Tampa Highway
- Market: Lakeland
The buyer of the property was Brookfield Properties, while Morris Realty Co. acted as the seller. The sale was facilitated by the brokers Mike Davis, Rick Brugge, Rick Colon, Zachary Eicholtz, Chloe Strada, and Dominic Montazemi from Cushman & Wakefield.
On the Map
$27,300,000
$129/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
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93