Clarion Partners pick up another warehouse near TPA for $48.95 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Apr 1, 2024

A New York investment firm has acquired more industrial property near Tampa International Airport.

Clarion Partners paid $48.95 million for TIA Logistics Center, a 245,000-square-foot warehouse at Knox Street and Hoover Boulevard. The property is directly south of Tampa Airport Logistics Center, which Clarion bought for $55.6 million in late 2023.

Fanatics Inc. leases TIA Logistics Center. The lease was among the Tampa Bay Business Journal's Best Real Estate Deals of 2023.

The sale closed March 28, according to Hillsborough County property records, and appears to be a cash transaction. A mortgage for the sale has not been filed.

The seller was a partnership of Indianapolis-based Scannell Properties and Tampa's Legacy Development Partners. The developers paid $4.8 million for the 20-acre site in 2019.

Tampa Bay's industrial real estate market remains attractive to investors and developers, even after a national post-pandemic slowdown in 2022. Atlanta-based Veritiv Corp., which provides packaging services, leased 570,000 square feet at a Lakeland industrial park in December, closing out the year with the region's largest industrial lease of 2023.