Lakeland distribution center housing PepsiCo’s Gatorade operations sells for $61.5M

Here is a breakdown of the transaction details and context around the property:

Transaction Overview

• Property: CenterState Logistics Center (8060 State Road 33 N, Lakeland, FL)
• Sale Price: ~$61.5 Million
• Building Size: 605,412 square feet
• Asset Type: Class A industrial/logistics warehouse

Tenant & Operations

• Primary Tenant: Leased long-term to Quaker Sales and Distribution, a wholly owned subsidiary of PepsiCo.
• Function: Serves as a major regional distribution hub dedicated to Gatorade products.
• Facility Features: 36-foot clear ceiling heights, ESFR fire suppression systems, Ductilcrete flooring, and extensive staging for over 140 trailers and 200+ vehicles.

Strategic Location & Market Impact

• I-4 Corridor Position: Located directly off State Road 33 near Interstate 4 (Exit 38), positioning it in the center of Central Florida’s industrial supply chain.
• Logistics Value: The site enables same-day distribution to over 12 million consumers across the Tampa Bay and Greater Orlando metro areas within a short drive.
• Industrial Demand: High-grade logistics assets along Polk County’s I-4 corridor continue to draw strong institutional investor interest due to low regional vacancy and creditworthy, single-tenant net leases.