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.