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Transwestern, Crow Holdings Fund Offload 713K-SF Industrial Redevelopment in Lakeland
Transwestern Development Company and a real estate fund advised by Crow Holdings Capital have sold University Park at Bridgewater, a 713,000-square-foot warehouse accompanied by a six-acre parcel in Lakeland, FlL. Boston-based AEW Capital Management purchased the property, which is 100% leased to HCA Healthcare.
Situated between Orlando and Tampa, University Park at Bridgewater is one of the largest speculative industrial projects ever built in Florida. Building #100, the property occupied by HCA Healthcare, is the first asset to be completed on the former site of Golf Club at Bridgewater. The partners acquired the 183-acre property in 2018 and worked with the city of Lakeland to rezone for industrial use.
“The surge in demand for modern, large-block warehouse and distribution space requires out-of-the-box thinking, especially in markets like Central Florida, where industrial vacancy is below the national average,” said TDC’s Steve Kros.
CBRE’s Chris Riley represented ownership in the disposition.
- ◦Sale/Acquisition
