Residential

Grasslands West

Village Center Dr, Lakeland, FL, 33803, US

Executive Summarydownload
Grasslands West_Property for Sale

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Asset description

​​​​​​​Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to present the forward purchase opportunity of Grasslands West (the “Property”, or the “Project”), an 88-home build-to-rent community located in Lakeland, Florida, a region experiencing rapid economic expansion and boasting robust housing fundamentals. Grasslands West will be the first-of-its-kind build-to-rent community in Lakeland, appealing to a discerning clientele seeking space and a true sense of home without the hassles of ownership. The Property’s ideal mix of three and four-bedroom detached homes will feature two-car garages and fenced-in yards, plus luxurious finishes that include granite countertops, hardwood-style flooring, and smart home features.


The Property enjoys a best-of-the-best location along the 15th and 16th holes of the Grasslands Golf and Country Club, the area’s most desirable country club community with homes that routinely sell for over $1 million. The Property’s layout takes full advantage of the golf course frontage providing scenic views to residents, while a pool and pavilion at the front entrance to the Property provide unique amenities for the build-to-rent space. Grasslands West is also within walking distance to Lakeside Village, Lakeland’s premier retail and entertainment destination featuring 966,000 square feet of prime retail space across 75 shops and restaurants.

Attributes

Building area Net
161,770 sf
Year built
2022
Land area Net
20.06 acres (873,814 sf)

Investment highlights

  • Highly sought-after, low-density, build-to-rent development that is in high demand by end-users and institutional investors alike.
  • Upscale location along the golf course of the Grasslands Golf and Country Club with homes routinely selling north of $1 million.
  • Average HHI within a 1-mile radius of $102,650, 50% above the average for the Lakeland MSA.
  • Unmatched walkability to Lakeside Village, a 966,000-sf lifestyle center that stands as Lakeland’s premier shopping destination.
  • Best-in-class product for the BTR space featuring three-and four-bedroom detached homes with two-car garages, high-end finishes, golf course frontage, a pool, and pavilion.
  • Within a 15-minute drive of major employment drivers, such as Publix’s headquarters, Geico, the County Line Road e-commerce corridor, and Downtown Lakeland. The Property is also within just 40 minutes of Downtown Tampa and 60 minutes to Orlando.
  • The Lakeland MSA has been among the nation’s top growth markets with the population having grown by 20% since 2010 and is projected to grow 8% by 2026.
  • Lakeland home values are up 28.7% over the past 12 months, making home ownership less attainable and driving demand for rental housing.


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Last updated
Nov 30, 2022