One of the most closely watched industrial properties in Florida has a new owner.
The 930-acre Central Florida Intermodal Logistics Center in Winter Haven has been sold to Phoenix-based Tratt Properties LLC.
The property, home to a 400,000-square-foot warehouse recently purchased by Coca-Cola Florida, offers rail access serviced by CSX Corp. and is entitled for up to 8 million square feet of development.
The purchase price is between $15 million and $20 million, though Tratt Properties declined to give a specific figure.
While the property has sat dormant for years, real estate experts and economic development officials believe the industrial market has caught up with the original vision for the park.
Tratt has watched the Central Florida industrial market evolve in real-time: When he purchased an Amazon.com-occupied warehouse in Lakeland in 2016 for $88 million, the average big deal looking for industrial space in the Interstate 4 corridor was around 100,000 square feet; today, the average large deal is closer to 500,000 square feet.