GID Buys Tampa Bay Warehouse for $14M
- Dec 04, 2020
Monin has closed the $14 million disposition of its 101,075-square-foot distribution center at Starkey Lakes Industrial Center in the Tampa Bay area, according to public records. GID acquired the property and will lease the building back to the syrup and sauce manufacturer.
Located at 8585 126th Ave. N. in Largo, Fla., the property opened its doors in 2017, CommercialEdge data shows. The structure, along with two industrial developments from Harrod Properties, replaced an approximately 215,000-square-foot dated office building, which was demolished in 2016. GID’s acquisition has 15 covered loading docks fitted with bumpers and levelers along with one grade-level, drive-in door and a 115-foot truck court.
The property is within 10 miles of central St. Petersburg and Clearwater, 7 miles west of the Howard Frankland Bridge to Tampa. The St. Pete-Clearwater International Airport is 5 miles to the east.
The importance of well-located industrial assets in the Tampa Bay area continues to grow. In November, Dalfen Industrial traded a nearly 425,000-square-foot Amazon-leased property for close to $48 million.