PCCP, Blue Steel Team on 1.4MSF Tampa Industrial Park
ByThe call for premier industrial space is growing louder in South Florida, and a new partnership plans to respond with a 1.4 million-square-foot industrial project in suburban Tampa. PCCP LLC and Blue Steel Development have established a joint venture to acquire a 154-acre site in Lakeland, Fla., on which the partners will develop a 1.4 million-square-foot industrial park.
PCCP and Blue Steel aren’t waiting for a big lease commitment to move forward with the Class A project, called Key Logistics Center, but are building it on spec. “Given the high demand, lack of available big-box space and significant increase in the velocity of large transactions in this submarket over the past 12 months, the decision to build Key Logistics Center on speculative development is a testament to the strength of Central Florida’s industrial market,” said Ryan Vaught, an associate with JLL, in a prepared statement. The firm will handle marketing and leasing for the development…
