Published: Dec 5, 2018
OCALA, Fla. – (Dec 5, 2018) – Florida Crossroads Logistics Center, a 617,046-square-foot spec distribution center, is planned for the Central Florida city of Ocala, in an area fronting I-75 that’s proving to be extremely popular as a statewide distribution hub.
The facility, developed by Red Rock Developments, Westport Capital Partners LLC and Wharton Industrial, will sit on 46 acres of land. The location is key, as it allows for same-day distribution to nearly the entire state of Florida – one hour from Orlando and Tampa, two hours from Jacksonville and four hours from Miami.
The facility, which is expected to be open by the fourth quarter of 2019, is being listed for lease as a spec building by Colliers International Central Florida’s Deborah Mickler, SIOR, Executive Managing Director of Industrial Services; and David Wilson, Associate.
The logistics center will be built in an industrial corridor off I-75 and US-27 in Ocala, near the Chewy.com, AutoZone and FedEx distribution centers. The corridor sees over 58,000 vehicles per day and has 1,500 linear feet of visibility along I-75. A total of 70 percent of truck traffic in and out of Florida passes through this area, and the location would enable a distributor to do same-day delivery to over 14 million people. Central Florida’s industrial market is tight at a 4.4 percent vacancy rate with 223 million square feet of industrial space, creating opportunities for new industrial space. “We believe the site is well positioned to benefit from the growing demand for regional distribution assets in the Southeast,” said Russel Bernard, Managing Principal with Westport Capital Partners.
“Requirements for industrial tenants are getting larger and big companies want a lot of space but it isn’t always available,” said John Barker, President and Chief Development Officer with Red Rock Developments, the developer behind the project. “We’re looking for a larger tenant for this space that wants to reach most of Florida in a short time.”
“We are thrilled to partner with Red Rock and Colliers International in the marketing of this new facility which is locating in one of the hottest commerce parks in the southeastern US”. Said Brett Barnes, VP-Economic Development Metro Ocala Chamber and Economic Partnership (CEP). “We will waste no time in reaching out to our contacts in the site selection, brokerage, and corporate real estate community on this amazing opportunity”.
“The City of Ocala is excited to welcome this investment in our community and we’re ready to work. There is no better place in Florida than right here in Ocala to do business, raise a family, and thrive.” Said Ocala City Council President Matt Wardell.
Florida Crossroads Logistics Center is located at NW 35th St in Ocala. For more information on the property please contact Colliers International at 407-843-1723.
About Red Rock Developments
Red Rock Developments is a national commercial developer. that focuses on single-tenant developments for office and industrial users. Red Rock provides the full spectrum of development services including build to suit, speculative industrial, net lease advisory, project management and industrial park development.
About Westport Capital Partners LLC: Westport Capital Partners LLC is a real estate investment firm focusing on adding value to real estate and “hands-on” solutions to complex situations. Westport provides domestic and international real estate related investment opportunities to institutional and private clients. Through its various funds, the firm invests in a wide variety of distressed, opportunistic and core plus real estate assets. The firm has offices in Los Angeles, California, Wilton, Connecticut, Bozeman, Montana and London, England. For more information regarding Westport Capital Partners LLC, please visit www.westportcp.com.
About Wharton Industrial
Wharton Industrial is a platform company of Wharton Equity Partners, a New York City-based real estate investment firm formed in 1987. The company has extensive experience acquiring, developing and operating all asset classes, including having recently purchased in excess of $500 million of multifamily properties primarily in the southeast US through its affiliate, Wharton Residential.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $25 billion of assets under management from the world’s most respected institutional real estate investors.
About Ocala/Marion County Chamber and Economic Partnership (CEP)
The Ocala/Marion County Chamber & Economic Partnership (CEP) was formed to create a one-stop approach to business retention, attraction and creation efforts. Moving Forward is our charge and it reflects our desire to be a unified voice and catalyst for the business community. By working together with our partners and community investors, we will continue to improve our quality of life and build a strong base for economic development in Marion County.