Blackstone Unloads Polk Co Business Park for $104M

A Blackstone affiliate sold a three-building industrial park in Polk County for $104 million. LBA Realty was the buyer of the Four Corners Business Park in Davenport. The Tampa Bay Business Journal reports that nine-figure commercial real estate transactions are rare in the Tampa Bay region and have been scarce in the industrial market since 2022 when warehouse investment sales slowed. Investor interest in industrial assets picked up in late 2023, and sales have started to rebound.

CBRE National Partners team of Jose Lobon, Trey Barry, Frank Fallon and Royce Rose brokered the sale. The Four Corners Business Park’s three buildings total just under 800,000 square feet.

Four Corners Business Park is located directly between two major roads: Interstate 4 and U.S. Highway 27. Tenants in the park include Cargill and ReadyRefresh, a beverage delivery service.