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.
For comments, questions or concerns, please contact Dennis Kaiser