Florida Construction News staff writer
Parkway has broken ground on the second phase of Lakeland Central Park, launching construction on a major expansion of the industrial development in central Florida.
The privately held real estate investment, operations and development firm is advancing a $750-million project that spans 740 acres and is planned to deliver up to five million square feet of Class A industrial space at full buildout.
Phase 2 includes the extension of Winston Park Boulevard, creating a new connection to a signalized intersection at Airport Road and providing direct access to Interstate 4 via the Polk Parkway. Construction is also underway on LCP 300, a 261,000-square-foot cross-dock industrial building at 1735 Winston Park Blvd.
With Phase 2 infrastructure in place, all remaining parcels within the business park will be pad-ready, allowing for immediate development. Available sites range from 162,000 to 1.65 million square feet, a feature Parkway says will shorten delivery timelines for future tenants.
Located at the geographic centre of Florida’s logistics network, Lakeland Central Park offers access to Interstate 4, the Polk Parkway, U.S. 27, I-75, the Florida Turnpike, and state routes 98 and 60. The location allows distribution operators to complete same-day round trips to much of the state’s population, positioning the site as a key logistics hub.
Parkway acquired the property in an off-market transaction in December 2019 alongside Silverpeak and has pursued a phased development strategy. Phase 1 included infrastructure work and delivery of LCP 200, a 705,000-square-foot Class A cross-dock facility that was recently sold to a global furniture manufacturer and retailer.
“The groundbreaking of the next phase at Lakeland Central Park marks a significant milestone in our commitment to creating a premier industrial hub in Florida,” said Phil Marchese, senior managing director and principal at Parkway. “This expansion will enhance connectivity and provide modern facilities that support business growth and job creation in the region.”
LCP 300 is scheduled for completion in the fourth quarter of 2026. Infrastructure work, the Winston Park Boulevard extension and delivery of pad-ready sites are expected to be completed by the second quarter of 2027.
Lakeland Central Park is jointly owned by Parkway and a private investment vehicle managed by Silverpeak, capitalized by Silverpeak and an institutional investor with more than $140 billion in real estate assets under management. 
The project team includes Berkadia as financing arranger, Pinnacle Financial Partners as lead lender, Jr. Davis Construction as general contractor for infrastructure, Marcobay Construction as general contractor for LCP 300, and Cushman & Wakefield as leasing and marketing agent.
Beyond Lakeland, Parkway continues to expand its Florida footprint. The firm, together with partners Silverpeak and Everest Equity Group, recently acquired 22 acres in Lake Nona for Bennett Place, a $120-million mixed-use development located near Orlando International Airport.
Parkway has also announced leadership changes, naming Matt Mooney as chief executive officer and principal, and elevating John Kosciulek and Phil Marchese to principals. The firm currently manages a portfolio of approximately 15 million square feet across the Sunbelt.
