JLL Brokers $32M Tampa Industrial Sale
- Oct 15, 2020
JLL Capital Markets has arranged the $31.8 million sale of Breckenridge Park, a 334,000-square-foot office and flex property in Tampa, Fla. Senior Director Bret Felberg, Senior Managing Director Jeff Morris, Managing Director John Dunphy and Associate Peter Cecora negotiated on behalf of the seller, an entity affiliated with MLG Capital. A joint venture between The Arden Group and Avistone purchased the 15-building asset.
Additionally, a JLL Capital Markets Debt Placement including Director Jillian Mariutti, Senior Director Brian Gaswirth and Associates Michael DiCosimo and Drew Jennewein provided the buyer with a floating-rate, $26.3 million loan from BlackRock. The joint venture will use part of the proceeds to implement capital improvements at the property.
Breckenridge Park occupies 30 acres at 5402-5460 Breckenridge Parkway. The single-story buildings, completed between 1982 and 1998, range from 6,000 to more than 50,000 square feet, featuring grade-level and dock-high loading doors. The campus is leased to a diverse mix of national and local tenants.
The property is roughly 9 miles northeast of downtown Tampa, just west of U.S. Route 301 and north of Interstate 4 and Freeway 400. Less than 2 miles north is a 3.2 million-cubic-foot cold storage asset recently purchased by Americold in a $107.5 million buying round.