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News release

TAMPA, FL

JLL Tapped to Lease a Commercial Portfolio of 677,500SF in Lakeland and Plant City


TAMPA, May 10, 2015 – As the demand for industrial space increases in the Tampa Bay and Central Florida areas, JLL (NYSE: JLL) has been appointed to lead leasing efforts for a commercial real estate portfolio consisting of three properties located within Lakeland and Plant City, Florida totaling 677,500 square feet of office, warehousing and distribution space.

The JLL team is handling the leasing on behalf of, Heritage Equities Incorporated, an Atlanta based privately held commercial and investment real estate firm with regional offices in Lakeland and a privately held portfolio of properties in Florida and Georgia. 

“JLL is the first real estate firm we have ever felt comfortable enough with to turn over the leasing of our properties to in Florida,” said Howe Whitman, Founder and President of Heritage Equities Incorporated.

JLL’s Senior Vice Presidents John Dunphy and Bob Alter and Ryan Vaught, Associate, will spearhead the leasing of 450,000 square feet of planned development located at the Southwest corner of Interstate 4 and County Line in Plant City, Heritage Business Center currently consisting of 137,500 square feet and Commerce Point totaling 90,000 square feet.

“The portfolio presents a valuable opportunity for the JLL team to partner with a proven owner and developer on a diverse set of properties. The intersection of I-4 and County Line is one of the most sought-after, high profile locations in Tampa Bay, making it a landmark development opportunity suitable for various uses, including a corporate headquarters,” explained JLL’s Ryan Vaught. ”Heritage Business Center has established itself among the preeminent business parks in Lakeland, while Commerce Point represents a redevelopment project where end users can have the benefits of a new building at a lower cost and faster occupancy.”

The Plant City development site consists of 30 buildable acres bordering County Line and I-4, with frontage to I-4 ideal for business naming rights. The property sits within a mile of major existing and future distribution centers for Amazon, Rooms To Go and Publix. The land is suitable for a flagship headquarters location that can house both office and warehousing business operations.

The second property, Heritage Business Center, is a premier flex business park in Lakeland, currently consisting of five of the planned eight buildings with office and distribution space having 24’ clear ceiling height. Tenants in the park include Daltile, Safelite AutoGlass, Terracon and National Flood Services. The space available for lease is ideal for office tenants also requiring a warehousing component.

Lastly, situated at 2443 Commerce Point Drive in Lakeland, Commerce Point consists of three buildings primarily used for warehousing.  These buildings are currently under redevelopment and will feature glass store fronts, stucco exterior and landscaping features, as well as a parking ratio of 8 spaces per 1,000 square feet, among the highest in the Lakeland market today. With the renovation underway, the property is expected to appeal to users in need of facilities which can accommodate large numbers of employees or customers.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $55.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.