JLL Capital Markets led the sales and financing efforts for the cross-dock logistics facility at Pace Logistics Center in Auburndale
News release
10 April 2023
Newly built industrial facility in Central Florida trades to new owner
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MIAMI, Apr. 10, 2023 – JLL Capital Markets announced today that it has closed the sale and financing of Building 100, a 464,400-square-foot, cross-dock distribution facility at Pace Logistics Center in Auburndale, Florida.
JLL represented the seller, Intersect Development Group, in the sale of the property. JLL also worked on behalf of the new buyer to secure the acquisition financing.
Completed in 2023, Building 100 is a state-of-the-art facility that offers 40-foot clear heights, a 60-foot speed bay, dock levelers, 450-foot building depth and a 185-190-foot truck court.
The 30-acre site is located at 1234 Pace Rd. within a strong industrial submarket in the I-4 corridor of Polk County. The property is equidistant between Tampa and Orlando with convenient access to Interstate 4 as well as State Routes 557 and 33. The Polk County industrial market has only a 3% vacancy rate with growing rents and strong historical absorption.
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Director Luis Castillo, Senior Managing Director Britton Burdette, Director Cody Brais and Analyst Taylor Osborne. The JLL Capital Markets Debt Placement team representing the new owner was led by Managing Director Paul Spellman, Senior Director Taylor Allison and Analyst Emma Buch.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Intersect Development Group
Intersect Development Group was founded in Atlanta, Georgia in 2019 with one goal: to intersect its stakeholders’ interests with its developments to create value for all. The company’s founding principals have over 100 years combined in the development business with over 15 million square feet developed. To learn more, please visit: intersect-group.com.