Prized industrial flex space going up quickly at Lakewood Ranch

Harrod Properties of Tampa is rapidly pushing ahead with the Gatewood Corporate Center at Lakewood Ranch.

And well it might, considering the demand for industrial flex space in the Bradenton-Sarasota market.

“The vacancy rate is so very low for that kind of space, about 2.8 percent,” said Janet Robinson, commercial director for Coldwell Banker Commercial NRT for the Tampa Bay region.

With their high ceilings, loading docks and roll-up doors, industrial flex space has become critical to retailers that need convenient distribution centers, she said.

“Anything close to I-75 is hot when it comes to distribution,” Robinson said.

Harrod’s first two buildings, one measuring about 100,000 square feet and the other about 60,000 square feet, are the forerunners of 537,000 square feet of industrial flex space planned on 88.5 acres east of Lakewood Ranch Boulevard and south of Gatewood Drive.

In all, Harrod Properties plans to build seven buildings at Gatewood.

Benderson Development is building space similar to Gatewood in the SRQ Commerce Center, located east of U.S. 301 and north of University Parkway.

Because of the demand for industrial flex space and the creation of new jobs, Manatee County has been fast-tracking the project.

Stephen Racine, vice president of leasing and development for Harrod Properties, declined to identify which companies have leased space in Gatewood. But he did say that several major distribution companies have reached out to Harrod.

Harrod is pushing to get a certificate of occupancy for the larger building by July 15 and for the smaller building during the first part of August, Racine said.

In addition to warehousing, the flex industrial space could include showrooms and offices, Alex Onishenko, fire marshal for East Manatee Fire Rescue said.

There have been no issues with meeting fire safety standards for the new property, which is unique because of its “enormity,” he said.

“They have been a pleasure to work with. They are really professional,” Onishenko said.

Manatee County is a business-friendly government, and that will benefit the new clients at Gatewood, Racine said.

The Lakewood Ranch location was selected for its potential to host industrial flex space close to Interstate 75, and because existing flex space is near Sarasota Bradenton International Airport, or futher north, Racine said.

Harrod Properties, founded in 1990, has developed more than 15 million square feet of office, industrial, retail and medical properties, according to its website.

Among its projects are Feld Entertainment at 2001 U.S. 301, Ellenton; Cypress Bay I Corporate Center in Tampa and Parallon Business Performance Group in Largo.

This story was originally published May 26, 2017 at 10:43 AM with the headline "Prized industrial flex space going up quickly at Lakewood Ranch."