JLL Brokers Sale of 2 Industrial Facilities

The company has arranged both transactions on behalf of Blue Steel Development and also represented the buyer of the second deal. The two facilities changed hands for a total of $21.8 million.

Crossroads Commerce Center
Crossroads Commerce Center

JLL has arranged the sale of two build-to-suit industrial facilities within Crossroads Commerce Center in Tampa, for a total of $21.8 million. Blue Steel Development sold the assets to NewSouth Window Solutions and Colonial Grocers. The industrial center is 50 percent sold and occupied.

Located at 4330 Williams Road, Crossroads Commerce Center occupies 71 acres at the crossroads of interstates 75 and 4, 21 minutes away from downtown Tampa. Other major cities, such as Orlando, Jacksonville, Miami and Atlanta, are accessible via the interstates.

NewSouth Window Solutions has purchased a 238,094-square-foot facility with cross docks, for $14.3 million. In this transaction, JLL worked on behalf of the seller, Blue Steel Development. Colonial Groceries has acquired the second asset, a 112,800-square-foot facility with front-load access, for $7.5 million. JLL represented both the seller and the buyer in the deal.

Due to the industrial park’s strong demand, Blue Steel has already built pads for two additional buildings, totaling 215,434 and 77,760 square feet, with cross-dock and front-load dock configurations.

JLL’s team of Ryan Vaught, John Dunphy and Robyn Hurrell represented the seller in both transactions, while Gary Godsey and Caleb Lewis worked on behalf of the buyer, Colonial Grocers. Earlier this year, Vaught closed the sale of an 119,257-square-foot industrial facility in Lakeland, Fla., for $7.7 million.

Image courtesy of JLL