Provender Partners has signed Farm Cut, LLC, a unit of Boyton Beach, Florida-based global produce distributor South Florida Produce, to occupy an entire 42,423-square-foot, rail-served refrigerated distribution facility in Lakeland, Florida.
The lease signing comes only months after the food-related building investor completed a renovation of the 1980s-era building, which included a refrigeration refit, roof repairs, and interior and exterior upgrades. The 100% temperature-controlled building is located on a 4.14-acre lot and features 30-foot clear heights, 12 dock-high doors and 6,000 square feet of office space.
Provender acquired the vacant facility at 5300 Great Oak Drive in late October, which marked the firm’s entry into the Florida market.
“Central Florida is one of the fastest growing regions in the United States, but the food supply chain has not kept up with the state’s in-migration,” said Provender CEO Neil Johnson. “Food service companies, grocers, farmers and logistics companies are finding it difficult to find high quality, strategically located facilities to get their fresh products to market. The Lakeland facility is the first step in our plan to build scale in Florida, as we have in the rest of the country through future development and acquisition.”
Farm Cut’s new distribution facility in Lakeland is located along Florida’s burgeoning 132-mile Interstate 4 Corridor, one of the prime distribution hubs in the state serving a population of nearly five million people within a 50 radius. The I-4 corridor also is served by two international airports (Tampa and Orlando) and the deep-water port of Tampa Bay providing domestic and global reach.
John Dunphy and Chuck Rosien of JLL represented Provender in the Lakeland lease transaction.
Chris Robinson of Fischer represented the Seller and Scott Delphey of Food Properties Group represented Provender in the Kissimmee acquisition.
About Provender Partners
Provender Partners is the leading Food Related Industrial Buildings (FRIB) investor in the U.S. and the only investor 100% dedicated to FRIB. With real estate holdings throughout the United States, Provender Partners combines cutting-edge research and analysis with years of experience to ensure the best possible value for its clients in every facet of the FRIB business. Since inception in 2014, Provender Partners has acquired $869 million of refrigerated real estate totaling 8.5M square feet; sold $711 million of property; and leased more than 6.1 million square feet to clients that include Sprouts, Dollar General, Hello Fresh, Penske Logisitcs and Kraft Heinz.
