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News release

LAKELAND, FL

JLL Tapped to Sell 4,470-acre Williams’ Property in Lakeland

Mixed-use land site strategically located adjacent to the new Florida Polytechnic University


LAKELAND, FLORIDA, August 15, 2016 – JLL announced today that it has been selected by Williams Acquisition Holding Company, LLC, to oversee the sale of 4,470 acres of land in Lakeland, Florida, considered one of the largest sites of developable land available within Central Florida (the "Property" or the "Williams Property"). Situated at the south side of Interstate 4 (I-4), between State Road 33 and Polk Parkway, the Property sits adjacent to the new campus of Florida Polytechnic University, an engineering and technology college that became Florida's 12th state university when it opened in 2014. The Property offers immediate access to I-4 from SR 33 and Polk Parkway and is situated between two of the fastest growing cities in the country, Orlando and Tampa.  An internal roadway, consisting of University Boulevard and Research Way, traverses the site from east to west, providing direct access between the Property's two means of ingress and egress to I-4.     

The population of central Florida – from Tampa to Orlando – is expected to increase by nearly 30% before 2030, and the Property is positioned to capture much of that growth.  Of the total site, 2,408 acres are entitled for mixed-use development, allowing for the future construction of residential, commercial, retail, industrial and research park components.   The Property includes almost 3,000 residential units entitled for development.  The brokerage team leading the sales efforts is comprised of JLL Senior Vice President John Dunphy and William McGee III as well as JLL Executive Vice Presidents Scott Cullen and Ronnie Deyo.   

The large, mostly entitled site presents a rare opportunity for developers, as it is one of the largest contiguous sites in Central Florida with direct access to I-4. "The I-4 Corridor is a very desirable market today and has been getting significant attention from national developers, both for residential uses as well as industrial uses. For example, FedEx is currently building a 337,000-square-foot Central Florida distribution hub a few miles from this site.  In addition, a large national retailer is constructing an e-commerce distribution center of over 2,000,000 square feet on the I-4 Corridor.    We expect other large scale tenants to follow suite," said JLL Senior Vice President John Dunphy. "With this site, developers and future tenants have a unique investment opportunity in an exceptional location." 

The Property's large size and central location make this a rare development opportunity.  Today there are almost 9 million people within a 100 mile radius of the Property, and this number is expected to grow rapidly.  No other site in central Florida has the combination of size, entitlements, infrastructure and location as the Williams Property.  "It is truly a once-in-a-generation opportunity," said JLL's Deyo. 

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. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 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.