Flex/industrial portfolio near Tampa International sells for $17.1 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Feb 26, 2021

A flex/industrial business park near Tampa International Airport has sold for $17.1 million.

The eight-building Sunstate Business Park, which sits at the intersection of West Waters Avenue and Sunstate Street, has been sold to Birtcher Anderson & Davis, in a joint venture with Belay Investment Group. The park totals 180,323 square feet and is 91 percent leased; among its 26 tenants are Freedom Scientific Inc., Cooper Speed, Calta’s Fitness Center and American Technologies Group.

Birtcher Anderson & Davis has sold off more than 1 million square feet of Tampa Bay properties in the last two years, and Sunstate is currently its only asset in the region. It currently has 11 million square feet of commercial real estate across the U.S.

Ryan Vaught, Robyn Hurrell and Nathan Lynch of Colliers represented the seller, Citimark. The buildings can accommodate a variety of industrial and office tenants.

“Everyone’s chasing infill industrial real estate right now," Vaught said in a statement. "And given the high barriers to entry in this submarket – with limited availability of existing space and virtually no quality development sites for new construction – acquiring Sunstate Business Park was a great opportunity for the buyer.”