348,740-square-foot warehouse occupied by LG Electronics has sold to a client of MetLife Investment Management, LLC
Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, has completed a successful disposition of Building 400 at Lakeland Commerce Center, part of a four-building industrial complex in Lakeland, Florida to a client advised by MetLife Investment Management, LLC.
Last year, Stonemont signed a full-building lease with LG Electronics USA, with Building 400 becoming a regional distribution center for LG’s award-winning home appliances and consumer electronics products. Building 400 is a 348,740 square foot cross-dock facility with a 36-foot clear height, 95 dock-high doors and 206 car parking spaces. The overall four-building industrial complex was completed in Q1 2024 and sits on the I-4 corridor just over 30 miles outside of Tampa. While Building 400 is fully occupied, there is still availability in the remaining three Lakeland Commerce Center buildings that accommodate users between 25,000 SF to 182,000 SF.
“After a successful development and swift leasing period at Lakeland Commerce Center, we are pleased to see the property transition to a globally respected entity like MetLife Investment Management,” said Avery Dorr, vice president at Stonemont. “Stonemont remains committed to identifying and executing strategic industrial opportunities that create value for our partners and tenants alike. We are confident in Florida’s continued success as an industrial powerhouse, and look forward to our future endeavors as we continue our development and leasing efforts across the market.”
According to CoStar, Lakeland’s industrial market saw steady improvement throughout 2024, gaining momentum going into 2025 as vacancy rates continued to decline. Stonemont remains active in Florida with a new lease recently signed at 429 Business Center in Ocoee, Florida, bringing the 32,418-square-foot Building 200 to full occupancy.
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About Stonemont Financial Group
Stonemont Financial Group specializes in investing across a broad spectrum of real estate asset classes and geographies, specializing in industrial, net lease, and healthcare real estate. to deliver attractive risk-adjusted returns. Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts and high net-worth individuals. With a combined track record of over 60 years of experience and $20 billion invested, Stonemont’s founders and managing principals are committed to delivering attractive risk adjusted returns.
