A three way partnership between an affiliate of Equus Capital Companions and a U.S.-based public pension plan has acquired a two-building, 299,241-square-foot industrial campus in Lakeland, Fla., a Tampa submarket. An affiliate of Excessive Road Logistics Properties offered the asset for $38 million.
CBRE organized the deal on behalf of the vendor. The Class A park was absolutely leased on the time of sale to 2 tenants: Gruma—a subsidiary of Mission Meals—and Safelite.
The campus beforehand traded in February 2022, when Crescent Communities offered it for $25.9 million to Excessive Road Logistics Properties, based on CommercialEdge info.
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Constructing 100 measures 178,702 sq. toes, the identical supply reveals, and options 45 dock-high loadings doorways, two drive-in doorways, 53 trailer stalls and 150 automobile parking areas. The 120,539-square-foot Constructing 200 includes 27 dock loading doorways and two drive-in doorways, 97 parking spots and 36 trailer stalls. Moreover, each services have 32-foot clear heights.
The campus is at 900 and 920 N. Chestnut Highway, near Interstate 4 and about 4 miles from Downtown Lakeland. Downtown Tampa is inside 32 miles, whereas the Tampa Worldwide Airport is 36 miles southwest.
CBRE Vice Chairs Frank Fallon and Jose Lobon represented the vendor within the deal. Equus Vice President Tim Feron and Analyst Tucker Scaringe oversaw the acquisition on behalf of the client.
Tampa services commerce on par with U.S. figures
Yr-to-date by way of July, Tampa’s industrial gross sales quantity amounted to $621 million, based on the newest CommercialEdge industrial report. Property within the metro modified arms for $135 per sq. foot on common, on par with the U.S. determine.
Firstly of the 12 months, PCCP LLC offered Tampa Airport Logistics Middle, a 297,254-square-foot industrial campus. Clarion Companions acquired the two-building property for $55.6 million—or about $187 per sq. foot.
