CA Industrial (“CA”) today announced the groundbreaking of its 876,750-square-foot industrial and logistics facility in Groveland, Florida. The project is part of a joint venture partnership between Stonemont Financial Group and Whitley Capital, LLC, and is anticipated to be completed in December 2023.
“We are excited to formalize CA Industrial’s expansion to Florida, and more specifically, the broader Orlando industrial market, which continues to experience robust leasing activity and subsequent demand for new industrial development,” said Steve Rowley, executive vice president and Southeast market officer for CA Industrial. “We are grateful for the opportunity to capitalize on the momentum behind the market through the addition of another Class A asset to our robust CA Industrial track record,” added Michael Podboy, president of CA Industrial.
The modern industrial facility is situated just 30 minutes from Orlando and provides excellent highway access with the Florida Turnpike, Highway 19 and Highway 27 within two miles of the site. Building features include 40-foot clear heights, a 185-foot truck court and ample auto parking spaces. HGR Construction Inc. serves as general contractor for the project and JLL’s Josh Lipoff and Joe Hills serve as leasing brokers for the building.
Since inception, CA Industrial has closed transactions totaling approximately $1.2 billion of project costs and has more than 10.3 million square feet of industrial space currently under development in key US markets including in Phoenix, Dallas, Orlando, Atlanta, Savannah, Columbus and Indianapolis. CA Industrial operates alongside Centris Industrial, Inc. (“Centris”), an externally managed private real estate investment trust (REIT) created to strategically invest in speculative ground-up industrial and logistics projects across the United States.