Square Mile Capital Management LLC (“Square Mile Capital”) today announced that it has originated two loans totaling $106 million to finance the acquisition of CenterState Logistics, a 1.0 million rsf cross-docked distribution facility located in Lakeland, FL, and Lakeside Logistics, a 505,000 rsf cross-docked distribution facility located in Plant City, FL. The loans were made to a leading real assets investment management firm.
The financings were arranged by Ed Coco and Matthew Casey of JLL’s Atlanta office.
Square Mile Capital Principal Eric Cohen commented, “Square Mile continues to seek out financing opportunities for newly-built logistics and distribution facilities in key growth markets. Both of these assets are strategically positioned with immediate access to I-4 and are positioned to benefit from the corridor’s continued growth and rapidly expanding appeal to warehousing and distribution tenants.”
CenterState Logistics features 40-foot clear heights, 238 dock doors and 254 parking spaces. Lakeside Logistics features 36-foot clear heights, 132 dock doors, and 303 parking spaces.