LAKELAND, FL – December 15, 2025 – Parkway, a privately held real estate investment, operations, and development firm, officially broke ground today on the expansion of Lakeland Central Park, marking a significant milestone in theproject’s evolution and signaling the launch of construction for its transformative second phase. The $750 million total project spans 740 acres and will ultimately deliver up to five million square feet of Class A industrial space.
Key elements of the expansion include:
Ideally positioned at the geographic center ofFlorida’s logistics network, Lakeland Central Park offers direct connectivity to Interstate 4, the Polk Parkway, US 27, I-75, the Florida Turnpike, SR 98, and SR 60. This central location enables distribution operators to complete same-day round trips to most of Florida’s population, making it a strategic location for logistics operations.
Since acquiring the site in an off-market transaction in December 2019, Parkway and Silverpeak have advanced a phased development strategy, starting with Phase 1 infrastructure and delivery of a705,000-square-foot, Class A cross-dock facility (LCP 200), which recently sold to a global furniture manufacturer and retailer.
"The groundbreaking of the next phase atLakeland Central Park marks a significant milestone in our commitment to creating a premier industrial hub in Florida," said Phil Marchese, Sr.Managing Director and Principal of Parkway. "This expansion will not only enhance connectivity but also provide state-of-the-art facilities for companies to thrive, creating new opportunities for businesses and jobs in the region."
LCP 300 is expected to be delivered by Q4 2026, with the infrastructure, extension of Winston Park Boulevard and pad site deliveries expected to be completed by Q2 2027.
Lakeland Central Park is jointly owned by Parkway and a private investment vehicle managed by Silverpeak, which is capitalized by Silverpeak and an institutional investor with over $140 billion in real estate assets under management. The project team includes Parkway as developer and manager, 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.
For more information, visit lakelandcentralpark.com.
In addition to the progress at Lakeland Central Park, Parkway, together with partners Silverpeak and Everest Equity Group, recently acquired 22 acres in Lake Nona, paving the way for Bennett Place, a $120 million mixed-use development located just minutes from Orlando International Airport. This project further reinforces Parkway’s long-term commitment to expanding its footprint in high-growth Florida markets.
Parkway also recently announced key leadership promotions that position the company for its next phase of growth. Matt Mooney has been named Chief Executive Officer and Principal, while John Kosciulek and Phil Marchese have been elevated to Principals. These promotions strengthen Parkway’s executive team as the firm expands its 15 million square foot portfolio and advances its strategic investment, development, and operational initiatives across the Sunbelt.
About Parkway
Parkway is a privately held real estate investment firm specializing in office, industrial, and multifamily assets in high-growth Sunbelt markets. With a legacy of success spanning decades, Parkway has acquired over $4 billion indiversified assets and continues to deliver exceptional results through its comprehensive, full-service platform. The firm currently has 15 million square feet of assets under management. For more information, visit www.pky.com.
About Silverpeak
Silverpeak Real Estate Partners is a US-focused real estate investment firm specializing in the acquisition and management of real estate investments across various funds, joint ventures, and separate accounts. Since inception in 2010, Silverpeak and its investment partners have acquired over 300 investments totaling more than $24 billion in gross asset value across property types and geographies. Investments include direct property, platforms and real estate companies, as well as development opportunities alongside experienced partners.
Further information is available at www.silverpeak.com.
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