Houston developer buys 22 acres off I-75 for $25M warehouse project

Alliance Industrial Company has made its first Tampa investment, paying $25 million for a Falkenburg Road site where it has already begun construction on a 351,400-square-foot speculative warehouse project near Interstate 75.

The Houston-based developer closed in February on 500 S. Falkenburg Road, a 22-acre industrial property about a block west of I-75 between U.S. 60 and U.S. 301.

The project will consist of two identical buildings with a shared truck court. Delivery is expected in spring 2027.

“We like the location,” said Chris Willson, managing director for Florida at Alliance Industrial. “It’s a block off I-75. It’s hard to beat that.”

The project is moving forward on a speculative basis, with no tenants secured. CBRE is handling leasing.

Aerial view of 500 S. Falkenburg Road industrial site near Interstate 75 in Tampa — Aerial view of the 22-acre industrial property at 500 S. Falkenburg Road, about one block west of Interstate 75, where a Houston-based developer is building a 351,000-square-foot distribution center.

First Tampa project anchors broader Florida industrial strategy

Each building will total roughly 175,000 square feet. Willson said typical industrial users in Florida range from about 40,000 to 175,000 square feet, and he expects the project to attract regional distribution tenants, with the possibility of a full-building user.

The project will replace older industrial improvements on the site with new 32-foot-clear, Class A distribution space designed for modern logistics operations.

The Tampa development marks Alliance Industrial’s first project in the market and is part of a broader Florida strategy.

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Willson said the company is building a statewide industrial portfolio, targeting Tampa, and the I-4 corridor, including Orlando, South Florida markets such as Miami-Dade and Broward, and potentially Jacksonville.

Alliance operates as a merchant developer, constructing industrial projects for lease and eventual sale.

Florida’s industrial fundamentals were central to the firm’s expansion into Tampa, Willson said.

“What makes Florida appealing in the industrial sector is the pace of rent growth,” he said. “You get that from land scarcity and population growth. As e-commerce grows, so grows the required warehousing.”

The Falkenburg property last traded in 2019 for $7.3 million, according to county records.

Construction is underway, positioning the east Tampa corridor for another infusion of institutional industrial capital as developers continue to bet on long-term warehouse demand tied to freight access and population growth.