Equus Pays $38M for Lakeland Warehouses

Equus Capital Partners completed the acquisition of a two-building, 299,241-square-foot industrial center in Lakeland, FL, for $38 million. The property was 100% leased at the time of acquisition. The investment was made on behalf of a joint venture between Equus and a U.S.-based public pension plan. The seller, High Street Logistics Properties, was represented by Frank Fallon and Jose Lobon of CBRE.

The property at 900 & 920 N. Chestnut Rd is located in Lakeland, FL, 1.5 miles from I-4 and just off of West Memorial Blvd, also known as U.S. Route 92, an 181-mile highway connecting the East and West coasts of Florida. The subject buildings were built in 2021. They are leased to two tenants: Gruma, a subsidiary of food manufacturer Mission Foods, and Safelite, a subsidiary of vehicle glass repair company Belron. 

Equus’s Tim Feron added, “Due to its central location and connectivity to I-4, Lakeland has established itself as a distribution hub serving the entire state.”