NGKF Lists 400-Acre Industrial Park, Secures HQ for Sypris Electronics in Tampa Bay
- May 24, 2016
By Robert Demeter
Tampa–Newmark Grubb Knight Frank recently listed the 400-acre U.S. 41 Industrial Park, and handled lease negotiation for the new 49,386-square-foot North American headquarters of high-tech manufacturer Sypris Electronics, both located in Tampa Bay.
Rick Narkiewicz, NGKF senior managing director, is the listing broker for the industrial park located in Hillsborough County. The rail-served property features a 48-inch Natural Gas pipeline, immediate access to the Port of Manatee, heavy industrial zoning, master water retention and nearly an unlimited amount of electric service available via Florida Power and Light.
“This is an exceptionally unique property to go on the market given its enviable location,” Narkiewicz said in prepared remarks. “The property is ideally located, benefiting from easy access to the I-75 and Big Bend interchange, its proximity to Port Redwing and is bounded on the east by the CSX Railroad, which can accommodate a spur into the site.”
In the long-term lease negotiations for its corporate headquarters and manufacturing facility, John Esposito, a senior managing director at NGKF, represented the global integrated systems solution provider, Sypris Electronics LLC. Sypris is known for its leadership in cryptography, key management, identity authentication and access management, as well as cyber security operations worldwide.
The lease NGKF structured will generate extensive savings through the tenant “right sizing” together with an aggressive economic package. The impending relocation will allow Sypris to increase efficiency and lower operating costs, while taking advantage of an economically beneficial down-sizing of their space. The new HQ is located in Tampa at 10901 N. McKinley Dr.
“It was an honor to have worked on this substantial transaction and to have one of the area’s premier technology companies remain in Tampa Bay,” added Esposito. “The surrounding counties were aggressively pursuing Sypris’ relocation via incentive packages.”
NGKF has been recently hired to market and lease Turnpike1 Business Park, a planned 1.6 million-square-foot project located in Southwest Miami-Dade, in Homestead, Fla.
Image courtesy of schafer-dev.com.