Tampa developers to speculatively repurpose Temple Terrace property
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 14, 2023

Alliant Partners Development, a real estate firm based in Ybor City, has acquired a Temple Terrace property for $13.275 million.

The 84,227-square-foot, single-story building at 5901 E. Fowler Ave. sits on 9.3 acres, according to Hillsborough County property records. Alliant closed on the property on Aug. 1. The seller was Toronto-based H&R Real Estate Investment Trust, which had owned the property since 2004, property records show.

Alliant is led by managing partners Carlos Alfonso and Frank Capitano.

Spencer Muratides, a partner in Alliant, sourced the property and led the acquisition effort. Jim Kovacs, Tyler Peterson and Kyle Mahoney of Colliers International brokered the sale.

“We are lucky to live in Tampa, where well-located properties will continue to stand the test of time,” Muratides said in a statement. “Despite all of the headwinds against us with interest rates and insurance in particular, we remain bullish on assets with a good cost basis in Tampa Bay.”

Alliant is planning to speculatively repurpose the building for a single tenant. Coca-Cola Bottlers’ Sales & Services Company LLC was the property’s previous tenant.

Valley National Bank provided a $29.25 million loan for the acquisition and repurposing of the building, property records show. Precise Construction is the general contractor; Planning Inc. is the planner and civil engineering team on the project. Grace Hebert Curtis Architects is also on the project team.

“We believe in fostering impactful, lasting connections that enable us to execute substantial transactions like this 84,000-square-foot deal, even amidst a tough market and a world recovering from a transformative pandemic,” Capitano said in a statement.