First State Bank to Redevelop Lakeland Ale House Site

First State Bank of the Florida Keys (headquartered in Key West) acquired the former Miller’s Ale House site in Lakeland to redevelop the parcel into a dual-tenant commercial space.

Key Details of the Project:

• The Location: The prominent site previously occupied by Miller’s Ale House in Lakeland.
• The Strategy: Rather than utilizing the entire footprint solely as a traditional standalone bank branch, the financial institution is subdividing and redeveloping the building into two separate tenant spaces.
• Tenancy: First State Bank will occupy one portion of the property as a full-service banking center, while the remaining square footage is designed to accommodate a secondary retail or restaurant tenant.

This adaptive reuse strategy allows out-of-market financial institutions to establish a brick-and-mortar footprint in growing Central Florida corridors while offsetting property footprint costs through commercial lease income.