Industrial park nabs $15M in financing loan

MANATEE COUNTY — Parkland Center, one of the largest corporate industrial parks in southern Manatee County, has obtained a $14.8 million refinancing loan.

Lancaster, Pa.-based High Properties LP, the owner of the facility, received the loan, at a fixed rate for 20 years, through ING Investment Management, according to a release. Real estate firm CBRE, through its Tampa-based debt and equity finance group, helped High Properties secure the loan.

“The portfolio's diverse tenancy and strong suburban location made this an attractive assignment,” CBRE Senior Vice President Donald Jennewein says in the statement. “ING believed that the portfolio had strong leasing velocity and was confident in High Properties' experience and track record with these assets.”

Parkland Center consists of 17 industrial/flex single-story buildings with 407,155 square feet of space. About 80% of the complex, which has a Sarasota street address, is leased, according to CBRE. Tenants include Radiant Power Corp. The center is a few miles from the Sarasota-Bradenton International Airport.