JLL completes $67.7M sale of Class A industrial complex as Lakeland absorption matches 2021 peak

MIAMI, July 15, 2026 – JLL Capital Markets announced today the $67.7 million sale of Lakeland Commerce Center Buildings 100-300, a three-building, Class A industrial portfolio totaling 557,100 square feet in Lakeland, Florida.

JLL represented the seller, Stonemont, in the transaction. MDH Partners acquired the asset.

Lakeland Commerce Center consists of three newly constructed, rear-load industrial buildings situated on 28.5 acres at 3490 County Line Road in Polk County. The properties are located within a master-planned business park positioned along the County Line Road corridor between Interstate 4 and Lakeland Linder International Airport, strategically equidistant from Tampa and Orlando. Located 4.7 miles from Interstate 4, the property provides same-day delivery access to Florida's 23 million residents and convenient logistics throughout the southeastern United States.

Lakeland's industrial market recorded nearly 3 million square feet of net absorption in 2025, matching its historic 2021 peak performance and marking a 74% increase year-over-year. The market maintains more than 10 million square feet of active tenant requirements, with leasing activity concentrated in spaces under 50,000 square feet, which represented more than 95% of transactions executed in 2025.

The JLL Capital Markets team was led by Managing Director Cody Brais, Senior Managing Directors John Huguenard and Luis Castillo, Associate Taylor Osborne and Analysts David Orta Jr. and Mia Gian.

"The sale of Lakeland Commerce Center demonstrates investor confidence in Central Florida's industrial fundamentals, where tightening vacancy and accelerating rent growth are creating compelling risk-adjusted returns for value-add strategies," Brais said. "MDH Partners is acquiring institutional-quality infrastructure at an attractive entry point in a market positioned at the epicenter of Florida's statewide logistics network, with the added benefit of stable income from creditworthy tenants providing downside protection during lease-up."

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, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Stonemont specializes in investing across a broad spectrum of real estate asset classes and geographies, specializing in industrial, net lease, industrial outdoor storage and healthcare real estate to deliver attractive risk-adjusted returns. Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts and high net-worth individuals. With a combined track record of over 60 years of experience and $20 billion invested, Stonemont’s founders and managing principals are committed to delivering attractive risk-adjusted returns. For more information on Stonemont, visit its website and LinkedIn.

MDH Partners is an Atlanta-based real estate investment company managing its discretionary funds targeting industrial real estate across the United States on behalf of its institutional investors. Founded in 2005 as the successor to a fifty-year-old local real estate development company, MDH Partners has led and/or participated in over $8 billion (100 million square feet) of acquisitions, developments, and asset management as an advisor and investor. For more information, visit www.mdhpartners.com