Augie Schmidt Sells 124,500 Square Feet Industrial Property for $7,050,000
Industry: Real Estate
Investment Property in West Lakeland Offered Full Occupancy Lease Income and Prime Location in Fast-Growing Market
Lakeland, FL (PRUnderground) September 10th, 2020
SVN | Saunders Ralston Dantzler Real Estate reported the recent sale of a large multitenant industrial investment property for $7,050,000. Listed and sold by Augie Schmidt, the Century Boulevard Industrial Park consists of approximately 124,500 square feet of well-maintained steel warehousing space and is fully leased with 38 tenants providing income to the buyer.
Located in West Lakeland, one of the fastest growing industrial markets in the country, this property is centrally-located in Florida’s I-4 corridor just north of the Lakeland Linder International Airport. The location provides easy access to excellent road systems such as I-4, the Polk Parkway and SR 60. With more than 20 million people within a five-hour drive, West Lakeland is an attractive market for industrial users.
“Augie is one of our rising young talents,” said Gary Ralston, CCIM, SIOR, a managing director at the brokerage. “He does his homework and is thoroughly dedicated to creating the best outcomes for our clients.”
The multitenant industrial market is a strong asset class due to the growth of the economy and the diverse tenant base these assets provide. This property offered a mixture of local, regional and national tenants. Maintaining full occupancy in spite of the COVID-19 pandemic and with very few tenants asking for rent relief, this property sold within 2% of the asking price.
ABOUT AUGIE SCHMIDT
Augie specializes in investment sales, tailoring custom strategic plans to advise his clients through the acquisition, disposition, and evaluation of investment-grade commercial real estate. He formerly served as the firm’s Director of Research and oversaw a team of research analysts that evaluated commercial assets and determined their value to maximize the client’s returns. Learn more about Augie at SVNsaunders.com/augieschmidt.
About SVN | Saunders Ralston Dantzler Real Estate
SVN | Saunders Ralston Dantzler Real Estate is a full-service land and commercial real estate brokerage with over $3.1 billion in transactions representing buyers, sellers, investors, institutions, and landowners since 1996. We are recognized nationally as an authority on all types of land, including agriculture, ranch, recreation, residential development, and international properties. Our commercial real estate services include marketing, property management, leasing and tenant representation, valuation, business brokerage, and advisory and counseling services for office, retail, industrial, and multifamily properties. Our firm also features an auction company, forestry division, international partnerships, hunting lease management, and extensive expertise in conservation easements. Located at the center of Florida’s I-4 corridor, we provide proven leadership and collaborative expertise backed by the strength of the SVN® global platform. To learn more, visit SVNsaunders.com.