Warehouse near downtown Tampa sells for $39.25 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Feb 14, 2022

A Tampa warehouse occupied by one of the largest bottling companies in North America has sold for $39.25 million.

EQT Exeter, an international investor in industrial real estate, purchased the Refresco Beverages facility at 5210 S. 16th Ave., Cushman & Wakefield Inc. said. A team of brokers from Cushman — Rick Brugge, Mike Davis, Rick Colon and Dominic Montazemi, with support from Brooke Tulley and Zach Eicholtz — represented the seller, RealOp Investments, in the transaction.

“This offering enabled the buyer to invest in a high-quality, infill industrial building with good tenancy," Brugge, executive managing director, said in a statement. "The property is in an irreplaceable location, offering the opportunity to leverage Tampa’s booming economy to achieve long-term growth."

South Carolina-based RealOp paid $16.5 million for the warehouse in 2019. RealOp closed on the property with plans for interior and exterior renovations; in 2020, Refresco leased the entirety of the building.

The purchase includes 9.59 acres of industrial land that can be used for expansion or additional development, Cushman said. Refresco's warehouse includes 27-foot clear heights, front load docking bays and 50 trailer parking spaces.