Tampa-Area Industrial Asset Changes Hands
- Dec 21, 2017
MDH Atlantic Acquisitions LLC—an Atlanta-based real estate investment company with a portfolio of over 11 million square feet of assets throughout the Southeast—bought Compark 75 near Tampa, a Class A commerce park with five small-bay, light industrial buildings comprising 285,615 square feet.
Located at 4427-4614 Pet Lane in Wesley Chapel, a fast-growing suburban area approximately 20 miles north of Tampa, the property is the only Class A industrial facility that serves the Northeast Tampa Bay area, which includes north Hillsborough and south Pasco counties. The site provides convenient access to Interstate 75.
Cushman & Wakefield’s Capital Markets team composed of Executive Director Rick Brugge, Vice Chairman Mike Davis and Executive Chairman Michael Lerner, represented seller HR Pasco LLP, a private partnership.
Built between 2007 and 2016, the property was 91 percent occupied at time of sale, with 25,800 square feet of space available for lease. Current tenants include the U.S. General Services Administration, Ortho Technology, Morgan Auto Group and Streetside Classics. Suites range from 3,300 to 41,017 square feet, providing tenants flexibility to grow.
- rear-loading docks
- 18- to 24-foot clear heights
- ESFR fire suppression
- 118-foot truck courts
“As the highest-quality industrial asset in the Northeast Tampa Bay submarket, Compark 75 appeals to local, regional and national businesses,” said Brugge, in prepared remarks. “Between a lack of readily available development sites in the area and rising construction costs, this property has virtually no competition, and therefore a high potential for continued rent growth.”
Nine months ago, Cushman & Wakefield’s Florida asset services group has secured the management rights to 33 buildings throughout Central Florida.
Photo via Google Street View