Ascentris and Foundry Commercial Acquire Industrial Land Located in Plant City, Florida
Denver, CO (July 8, 2019) – Ascentris, a Denver-based real estate private equity firm, and Orlando-based Foundry Commercial announced today the acquisition of a 60-acre land parcel located in the Lakeland industrial market in Florida. Ideally positioned in one of Florida’s fastest growing industrial corridors in between Tampa Bay and Orlando, the site is part of a 1,000-acre master-planned industrial park that Ascentris and Foundry will develop in phases as the market demands.
Situated along Interstate 4, just 15 miles east of Tampa Bay and 40 miles southwest of Orlando, the master-planned industrial park will easily serve over nine million people, representing 40% of Florida’s population. The first building, called Lakeside Station Phase I, will be a 505K sf, bulk warehouse distribution facility that will feature a cross-dock truck loading configuration, 36’ clear heights, and abundant trailer parking. Phase I is expected to deliver in 2Q-2020.
“We are excited to partner with Foundry in kicking off our first building in this dynamic and rapidly growing industrial market which is so well positioned to serve the needs of Florida’s explosive population base,” said Ascentris Managing Director Tricia Noble.
“Located near two international airports, a shipping port, and railways, the Lakeside Station site is not only well-positioned to provide access to markets throughout the state, but is also representative of what we know industrial tenants want – access to consumers, available labor, and highly trafficked roadways,” stated Moses Salcido, Principal of Development & Investment for Foundry Commercial. “We are delighted to be working with Ascentris to bring these much-needed Class A logistics facilities to the region,”
Ascentris is a real estate private equity firm based in Denver, Colorado. With nearly $1.3 billion in assets under management, Ascentris manages a series of fully discretionary institutional vehicles targeting core, value-add and opportunistic investments across all the major property types and geographic regions within the United States. Since 2003, Ascentris’ management team has relied on an investment philosophy and organizational structure that results in its investors getting to opportunities ahead of the market while receiving an unmatched level of service, transparency and accountability. Ascentris is a privately held and management-owned SEC registered investment adviser that maintains an unwavering commitment to put its investors’ needs first. Additional information is available at www.ascentris.com.
About Foundry Commercial
Foundry Commercial is a full-service real estate services and investment company with over 330 employees and more than 50 million square feet of management and leasing across the Southeast and Texas. Foundry provides corporate services, brokerage, leasing, building management and project management services, and is the largest real estate service provider to religious and not-for-profit organizations in the Country. Foundry also includes a development and investment platform that is fully integrated into its services business, leveraging its local market expertise to control nearly $1 billion in advantaged investment opportunities in partnership with its clients. Foundry Commercial was founded as CNL Commercial Real Estate in 2007 and launched as Foundry in 2015 through a management-led buyout. For more information, visit www.foundrycommercial.com.