Another 500,000 SF user surfaced last week, looking for land to buy in Lakeland for their own purposes. This is different from the other 500,000 SF that appeared looking for a build-to-suit to lease. That explains the flurry of developer activity and other large-scale contractors that are asking questions about land and pricing.
On the opposite side of the spectrum, we spoke with a tenant looking for roughly 30,000 SF last week. When we discussed competitive properties, their comment was “there’s still a lot of good options willing to negotiate” and that it was much different than other markets across the U.S. they saw that were tighter. That’s the boots on the ground telling you the real story…and waiting for the other shoe to drop. Activity has been picking up, and now we’re trying to qualify the requirements to see which ones are real.