Just Sold in Tampa-132,000 SF Warehouse with Helicopter Pad
Date Published: 09/30
information Courtesy of Rick Narkiewicz. Click to view Rick's Linkedin profile. Email us at email@example.com to be added to our Tampa Bay deal announcements and be the first to learn about transactions as the happen.
A 132,000 square foot office/warehouse facility located in East Tampa just sold on September 29, 2015. The building was constructed as a corporate headquarters for a large construction company and accommodated the storage of heavy construction equipment.
This world-class facility was constructed in 2006, has 26 ft. minimum clear height in the warehouse, and an underground fuel tank farm. There is also a helicopter hanger and helicopter pad on the fully fenced 21.5 net useable acre site. The office space is spectacular and constructed to a category 5 hurricane rating.
Metro Tampa Bay's industrial market has gotten tight very quickly. In the east Tampa submarket alone there have been seven transactions over 70,000 SF in the last 90 days. Two more deals are expected to be announced in the next 45 days which will result in a shortage of industrial space until new buildings are completed in mid 2016. Asking lease rates for new rear load warehouses are expected to be in the high $5 range. Asking lease rates for larger cross docks are expected to be in the high $4 range.
Companies looking to purchase a building will have to start their search well in advance. There are very few quality buildings available for sale and developers have been reluctant to sell land suitable for industrial development due to its short supply.
10/21 Leased Today-48,000 SF
05/31 45,000 SF Warehouse Sold