National + Industrial | November 28, 2018

IKEA Fulfillment Center in Lakeland Divested for $43M

Colliers International completed the disposition of one of three new warehouses at Key Logistics Center, a 1.4-million-square-foot industrial park in Lakeland, FL. The first building completed, a 520,000-square-foot warehouse, was sold to DHL Supply Chain for $42.5 million, and will operate as an IKEA fulfillment center.

Transwestern’s Walter Byrd represented the buyer. Colliers’ Ryan Vaught and Robyn Hurrell, who were with JLL at the time of negotiating the sale and are now with Colliers International Tampa Bay, represented the seller, Blue Steel Development.

IKEA’s move into the facility, at 5300 Allen K. Breed Highway, will enable the furniture giant to offer next-day delivery of products to most of Florida, as 95% of Florida’s population is within a five-hour drive of the warehouse. It will also serve IKEA customers elsewhere in the Southeast.

Construction on the warehouse started earlier this year, and the facility is expected to open in December 2018.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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