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Avison Young to lease Park 4 Logistics Center, a new 860k-square-foot industrial project under development by Clarion Partners and Seefried Industrial Properties fronting I-4 in Plant City, Florida

image of Park 4 Logistics Center, new industrial project under development, in Plant City, Florida 15 février 2024

PLANT CITY, FLA. – Avison Young today announced Clarion Partners and Seefried Industrial Properties started construction on Phase One of Park 4 Logistics Center, a new four-building, 860,120-square-foot industrial development in Plant City, Florida, and tapped the brokerage firm for exclusive leasing services. In 2023, Clarion purchased the 72-acre property at Park Road and N. Frontage Road off of Interstate 4 and partnered with Seefried to develop the project in two phases with Phase One delivering in fourth-quarter 2024:

  • Phase One: Delivery 4Q 2024
    • Building 100 – 218,960 square feet
    • Building 200 – 247,520 square feet
  • Phase Two: Delivery TBD
    • Building 300 – 169,000 square feet
    • Building 400 – 224.640 square feet

“Most of the industrial inventory that has come to market over the past three years has focused on 100,000 to 500,000-square-foot users, causing large spaces to sit vacant for longer periods of time. Park 4 Logistics Center will meet the demand of the growing number of businesses seeking spaces between 40,000 to 75,000 square feet,” said Clay Witherspoon, Principal and Managing Director of Avison Young’s Tampa operations. “The project’s location is ideal, as it’s only 13 miles away from the East Tampa corridor where land and development are scarce. The close proximity to the I-4 interchange makes it superior to the competition.”

During the second half of 2023, the landscape of industrial tenant demand swiftly changed in the Tampa Bay market. According to Avison Young, deals within the range of 100,000 to 250,000 square feet saw a significant decline of 62.8% compared to 2022. In 2023, the primary demand focused on spaces ranging from 50,000 to 100,000 square feet, constituting the largest share of leasing activity at 29%. Meanwhile, asking rates for industrial product in Tampa Bay increased 11% year over year in 2023 to $10.68 per square foot triple-net. Class A tenants in land-constrained areas continue to pay a premium. Rents are typically below the market average while just minutes away in Plant City.

“We saw great potential in the property and are excited to develop a Class A logistics park to meet the specific needs of the Tampa Bay market,” said Dave Trent, Vice President of Asset Management with Clarion Partners. “We are excited to work with Seefried Industrial Properties, a long-standing development partner, and Avison Young as the leasing agency on this on-time project.”

In Central Florida alone, Clarion Partners owns over 5.5 million square feet of stabilized industrial space and has another 4.75 million square feet in different stages of the development pipeline.

The real estate investment management company has worked with Seefried on numerous industrial projects across the U.S.

“Park 4 Logistics Center is a testament to our long-standing and fruitful joint-venture relationship with Clarion Partners,” said Paul Seefried, Senior Vice President of Seefried Industrial Properties. “As development partner, we look forward to delivering another high-quality industrial asset as the market continues to shift and grow.”

Right off of exit 22 of Interstate 4, Park 4 Logistics Center will boast excellent visibility to 127,000 cars per day. It is centrally located, just 16 minutes to Interstate 75 in Tampa and 52 minutes to Florida’s Turnpike in Orlando.

About Avison Young

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.

About Seefried Industrial Properties

Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties is a privately held real estate firm that focuses on the development, leasing and management of industrial properties across the U.S. The firm primarily focuses on development in core industrial markets and build-to-suits with tenants in core and second-tier markets. Seefried leases and manages approximately 25 million square feet for its institutional and European clients and has developed over 200 million square feet of space valued in excess of $18 billion across 30+ markets. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles, and Phoenix. For more information, please visit

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