ITG Brands Renews 238 KSF Industrial Lease in Tampa

The renewal marks the largest transaction of the past 12 months in the Tampa Bay industrial market. Cushman & Wakefield represented the owner in the negotiations.
East Meadow Distribution Center
East Meadow Distribution Center. Image courtesy of Cushman & Wakefield

ITG Brands, the third-largest tobacco company in the U.S., has renewed their full-building, 238,437-square-foot lease at East Meadow Distribution Center in Tampa, Fla. According to Cushman & Wakefield data, the long-term renewal is the largest industrial lease for the Tampa Bay market in the past 12 months. Newmark Knight Frank represented the tenant, while Cushman & Wakefield worked on behalf of the owner, an investor account advised by UBS Asset Management Real Estate & Private Markets, Real Estate US.

East Meadow Distribution Center is located at 2601 Tampa E. Blvd. in Tampa’s East Side Industrial submarket, right off U.S. Highway 301. The property has easy access to Interstate 75, Interstate 4, State Road 60 and the Selmon Expressway. Port Tampa Bay is roughly 7 miles west of the facility and Tampa International Airport is within a 25-minute drive.

The property has two points of ingress and egress and offers a potential additional 2-acre parcel for outside storage, employee parking or off-dock trailer storage. The free-standing building features 50 dock doors, two drive-in doors and a 24-foot minimum clear height.

Cushman & Wakefield Senior Director Josh Tarkow represented UBS in the lease negotiations, being the exclusive leasing advisor for the facility. Newmark Knight Frank’s Senior Managing Directors John Esposito and Rick Narkiewicz worked on behalf of the tenant.

In May, another Cushman & Wakefield team negotiated a 192,454-square-foot industrial lease renewal on behalf of the tenant. Miami International Freight Solutions occupied the entire building of an industrial asset in Miami Lakes, Fla.