Koozie Group, formerly BIC Graphic, sells off Pinellas County real estate
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jun 26, 2024

A Clearwater manufacturer that specializes in promotional items like pens and can coolers has sold its Pinellas County real estate for a combined $35.9 million.

Koozie Group, formerly BIC Graphic, sold two light manufacturing facilities at 14421 and 14423 Myerlake Circle in Largo and a facility designated for heavy industrial usage at 3001 Tech Drive N in St. Petersburg on June 20. The fourth parcel is a right-of-way portion of Tech Drive.

The 14421 building on Myerlake Circle is 89,968 square feet, and the 14423 building is 44,453 square feet. The heavy industrial facility on Tech Drive is 152,496 square feet.

The buyer, Boca Raton-based IP Capital Partners, closed on the property on June 20, according to Pinellas County property records. IP Capital Partners secured a $21.45 million mortgage from United of Omaha Life Insurance Co., property records show.

IP Capital Partners has been active in the Tampa Bay market for years.

The transaction is a sale-leaseback for Koozie Group, according to a company spokesperson.

"This transaction builds on our success and fits our strategic plan to continue investing in our business and service delivery to create an even better experience for our distributor partners," CEO Pierre Montaubin said in a statement to the Tampa Bay Business Journal. "This transition will be completely seamless for our customers and, as importantly, will have no impact on our Florida employees."