Three industrial buildings totaling 169,055 square feet in Tampa have been acquired in an off-market transaction financed with a $23.15 million acquisition loan.
East Capital Partners acquired the portfolio through a joint venture with Westport Capital Partners. JLL arranged the financing through GID Credit. The portfolio includes properties at 5501 Pioneer Park Blvd., 5519 Pioneer Park Blvd. and 9704 Solar Drive.
The portfolio is 90% leased to 11 tenants and includes warehouse and office space. The buildings feature 18- to 22-foot clear heights, 25 dock-high doors, six drive-in doors and three-phase power.
The properties are in the Tampa Airport and Tampa East industrial submarkets, where vacancy for small-bay industrial space remains limited. Most new industrial development in the region has focused on larger distribution facilities in outlying areas, leaving little new supply for smaller industrial users.
The portfolio sits near Interstates 275, 4 and 75, providing access to Tampa International Airport, Port Tampa Bay, the CSX intermodal terminal and downtown Tampa.
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