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Florida & Gulf Coast  + Central Florida  + Industrial  | 

Wharton Industrial Sells 510K-SF Industrial Facility in Plant City

Wharton Industrial, a platform of real estate investment firm Wharton Equity Partners, has sold a 510,000-square-foot industrial facility in Plant City. The sales price was undisclosed.

Wharton Industrial initially secured the 34-acre Lakeland submarket site in 2019 through an off-market transaction. It then partnered with Red Rock Developments to develop the property into a state-of-the-art distribution center, which the purchaser acquired upon its completion.

“Wharton Industrial recognized the incredible potential of this site two years ago, and our vision for it has been realized as this modern distribution facility is now located in the heart of a burgeoning hub for industrial and last-mile delivery,” said Peter Lewis, Chairman at Wharton Industrial. “We are thrilled to cap our successful development process with a sale to a respected REIT that will not only generate significant returns for our investors, but help meet the growing demand for top-of-the-line warehouse space across the Southeast and the rest of the Eastern U.S.”

The buyer was not disclosed.


Inside The Story

Wharton Industrial

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.