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Lakeland Village is located some 35 miles east of Tampa in Lakeland, Fla. Image courtesy of Berkadia
Continental Realty Corp. has obtained a $53.7 million loan backing the acquisition of Lakeland Village, an open-air lifestyle center in Lakeland, Fla.
The loan was secured by Berkadia South Florida. Managing Director Scott Wadler, Senior Director Matt Nihan and Associate Director Alec Fox spearheaded represented CRC. City National Bank of Florida originated the five-year loan. Jennifer Power, vice president of capital markets at CRC, oversaw and negotiated the deal.
Situated at 1479 Town Center Drive in Lakeland, approximately 35 miles east of Tampa in Polk County, Lakeside Village is located directly alongside the Interstate 4 corridor linking Tampa and Orlando. Polk County is an e-commerce hub in the Sunshine State.
Lakeside Village was completed in 2005 and some 70 tenants hold leases at the properties across retail categories, including fitness, apparel, food and beverage, entertainment and healthcare. The property also offers 46,000 square feet of Class A office space. Anchor tenants include CMX Cinemas, Kohl’s, Belk and Books-A-Million.
A Berkadia official noted that the most similar lifestyle center is located more than 36 miles away.
Lakeland Village is minutes from the corporate headquarters of mammoth supermarket chain Publix. Also nearby are the Town Center Lakeside Village Apartments, the Grassland Golf & Country Club and an assortment of new residential communities that are either under construction or in development.
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