Clarion Partners Pays $56M for Tampa Industrial Park

Real Estate

PCCP LLC has sold Tampa Airport Logistics Center, a two-building, 297,254-square-foot industrial park in Tampa, Fla. Clarion Partners acquired the asset for $55.6 million on behalf of a separate account client. Cushman & Wakefield represented the seller.

The 2022-completed campus was fully leased at the time of sale. Tenants at the 19.2-acre property include Veho Tech and Peak Nutritional Products, CommercialEdge data shows.

NorthPoint Development started construction on the project in 2021, with WELBRO Building Corp. serving as general contractor. Each facility features two drive-in doors, an ESFR sprinkle system, 52-by-50-foot column spacing and share a 192-foot truck court, along with some 300 parking spaces. The 100,936-square-foot Building 1 has 32-foot clear heights and 15 dock-high loading doors, while the 196,318-square-foot Building 2 has 24 loading doors and 36-foot clear heights.

Located at 5450 Johns Road and 5416 W. Sligh Ave., the industrial park provides easy access to Interstate 275, Veterans Expressway and Tampa International Airport. Downtown Tampa is some 12 miles southeast, while downtown St. Petersburg, Fla., is 24 miles away. Port Tampa Bay is within 10 miles.

The Cushman & Wakefield team which represented the seller included Vice Chair Rick Brugge, Executive Vice Chair Mike Davis, Senior Director Rick Colon and Executive Managing Director Dominic Montazemi, together with Associates Chloe Strada and Ryan Jenkins. In July, Brugge, Davis, Colon and Montazemi were part of the team that assisted Vital Pharmaceuticals in the sale of a 224,650-square-foot warehouse in Pembroke Pines, Fla.

PCCP’s recent industrial projects

At the end of December, PCCP formed a joint venture with Panattoni Development Co. and Hunt Cos. for the construction of a 939,612-square-foot industrial campus in El Paso, Texas. The two-building park is already underway, with completion expected later this year.

The firm is also working with Rockefeller Group on a 656,904-square-foot campus in Philadelphia. Other projects in the pipeline include a 672,533-square-foot logistics park, developed in partnership with BBX Logistics Properties.

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