MLG Snags $23M Tampa Industrial Portfolio
- Sep 29, 2017
Triangle Capital Group disposed of a 334,279-square-foot industrial portfolio within Breckenridge Park in Tampa, Fla. MLG Capital acquired the portfolio for $22.5 million.
Located at 5802-5912 Breckenridge Parkway, the 51-acre business park features a garden, ample parking, on-site property management services and grade-level and dock-high loading options. Notable tenants include Swagelok, Rosetta Technologies and Audio Fidelity Holdings. The property is within close proximity to hotels, dining and entertainment options, as well as Highway 301 and Interstate 4.
The JLL team of John Dunphy, Ryan Vaught and Robyn Hurrell represented the seller in the transaction.
Tampa’s Industrial Growth
JLL’s quarter two Industrial Insight report found that market interest in Tampa remains high as tenants look to upgrade their current spaces at a time when a number of companies are seeking to expand their footprint. Overall, the high-level of demand has caused asking rental rates to increase by 13.7 percent year-over-year.
“Tampa’s industrial sector is thriving with unprecedented levels of demand for space across the region. This performance has caught the attention of national users and investors,” said Vaught, in prepared remarks. “The sale of the Breckenridge Park portfolio is a testament to the strength of the market and represents a significant addition to MLG Capital’s portfolio as the group looks to stake its claim in Tampa’s active commercial market.”
Image courtesy of JLL