Summit real estate acquries industrial portfolio
Farallon Capital Management LLC sold the 230,586 square foot five property industrial portfolio in St. Petersburg, Florida. Buyer Summit Real Estate Group paid $17.4 million for facilities. JLL arranged the sale on behalf od the seller.
Three of the the facilities are located within the Westbay Corporate Center at 9400-9700 International Court N. Another two facilities are situated at 9700 16th St. N. and 9843 18th St. N. in the Metropointe Commerce Center. Both two centers are located within 1 mile from each other, alongside Interstate 275 approximately 9 miles from downtown St. Petersburg and aorund 16 miles from Tampa’s center.
Westbay Corporate Center is a Class A business park featuring concrete block construction. It includes dock-high and grade level loading capabilities, climate-controlled and sprinkler-equipped suites.
John Dunphy, executive vice president at JLL, said, “Tampa’s industrial sector continues to perform at a high level, catching the attention of national users and investors. The sale of this five-building portfolio is a testament to the strength of the market and represents a strong addition to Summit Real Estate Group’s portfolio as the firm looks to grow its presence in Tampa’s active commercial real estate market.”
Source: CP Executive
Fulya Altunyay/ [email protected]