Industrial property near Tampa commands $28.5M

MDH Atlantic Acquisitions LLC of Atlanta bought the Compark 75 development for about $100 per square foot

TRD MIAMI /
Jan.January 06, 2018 02:00 PM

Compark 75 in Lutz (Credit: TotalCommercial.com)

Compark 75, one of the few Class A industrial properties in an area north of Tampa, sold for $28.5 million, or about $100 per square foot.

MDH Atlantic Acquisitions LLC of Atlanta bought Compark 75, a cluster of five industrial buildings in Lutz, about 20 miles north of Tampa in southern Pasco County.

The buildings at Compark 75, which span 285,615 square feet, were constructed starting in 2007.

Compark 75 was 91 percent occupied when the sale closed. Its tenants include Morgan Auto Group, Ortho Technology, Oscor, Streetside Classics and the U.S. General Services Administration.

Rick Brugge, executive director of Cushman & Wakefield and a member of the brokerage firm’s Tampa-based capital markets team, represented the seller, HR Pasco LLP, along with vice chairman Mike Davis and executive director Michael Lerner.

“There’s very little quality product of this type in Pasco County, and the market fundamentals there are strong,” Brugge said in a prepared told the Business Observer. “And there’s also a limited amount of land available for industrial development.” [Business Observer] – Mike Seemuth


Related Articles

arrow_forward_ios
Rendering of Bridge Point 595 and Kevin Carroll

Bridge Development nabs $60M loan for Davie industrial project

3208 Northwest 72 Avenue and Blackstone CEO Stephen Schwarzman (Credit: Google Maps and Getty Images)

Blackstone buys industrial portfolio near Miami airport for $56M

Public Storage CEO Ronald Havner (Credit: Twitter)

Public Storage picks up industrial portfolio in Miami-Dade for $63M

JPMorgan Chase Bank lends $36M for Pompano Beach industrial development

Trio of industrial buildings in Riviera Beach Opportunity Zone sell for $11.7M

Google to invest $13B in real estate across the US

Deal would make CapitaLand the largest diversified real estate company in Asia

McCraney sells another industrial property in PB County to Cabot Properties, this time for $36M

arrow_forward_ios