Warehouse sale marks second-largest single-site deal in Tampa history
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 20, 2015

A Boston-based investment firm is re-entering the Tampa market with its acquisition of Tampa Distribution Center.

Cushman & Wakefield of Florida Inc. said Thursday that High Street Realty has acquired 955,000-square-foot campus at 1212 N. 50th St. in East Tampa. Seller MetLife Real Estate Investors had owned the property since 1974, according to Hillsborough County property records.

Cushman executive director Mike Davis , along with senior directors Rick Brugge and Michael Lerner represented MetLife in the transaction.

A purchase price was not revealed, but an industry source pegged the deal at more than $40 million.

In terms of square footage, Cushman said its research indicates the sale is the largest single-site sale in Tampa history.

"It's a well-located complex, and there's a lot of investment capital chasing industrial real estate," Davis said. Sponsored by People on the Move Jessica Ehrlich Jessica Ehrlich Law Office of Jessica D. Ehrlich Franco Ripple Franco Ripple CateComm Ray Atwood Ray Atwood Bahama Breeze See More People on the Move î • High Street previously owned a different building in the Tampa market, Davis said, but had sold it. "They're coming back because they believe in the Tampa market," he said. "They're a value add group, and what they do is take an asset, reposition it and sell it." The center is 82 percent occupied, Davis said. Julia Silva Rettig, a Cushman director, will be the leasing agent on the property and managing director Tim Rivers will manage it.