385,311 SF Warehouse Sold
Date Published: 06/01
Tampa, FL-4406 Madison Industrial Lane just sold for $77 per square foot. The 385,311 SF cross dock bulk distribution center was leased by Rick Narkiewicz of NGKF. Click here to read Rick's profile on Linkedin.
IDI sold the 30 ft. clear building this earlier month. It has 66 dock high loading doors, 48 trailer slots, a 110 ft. truck court and 228 parking spaces. The building was leased to HD Supply (229,000 SF) and Masonite (156,311 SF) at rates that are considered below market which is why it traded for a sub 6% cap rate to LaSalle.
The warehouse is located in Madison Business Center which is less than 4 miles it Interstate 75, .5 miles to US 41 and 2 miles to State Road 60.
EastGroup Properties just broke ground on two buildings in the same park and will likely be pre-leased due to the lack of supply in Tampa Bay.
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