New Jersey company buys Largo warehouses for $9.27 million
By Breanne Williams
Tampa Bay Business Journal
Published: Aug 22, 2023

New Jersey-based STRO Companies has acquired a warehouse property in Largo for $9.27 million.

An entity linked to Millstein Acquisitions and STRO Companies closed on the 103,494-square-foot complex on Aug. 18, according to a deed filed in Pinellas County. The seller was Cousin Corp. of America, a wholesale jeweler. Cousin bought the site in 1989 for $1.42 million, according to property records.

The complex at 12333 Enterprise Blvd. is comprised of three one-story buildings. The first is roughly 50,000 square feet and was built in 1979. The second is approximately 6,340 square feet and was built in 2004; the third is roughly 47,140 square feet and was built in 2018.

The warehouse is less than a mile from Ulmerton Road and adjacent to Restaurant Depot and Solar Gard Largo Service Center.

STRO Companies’ portfolio is primarily based in New Jersey. However, the company has expanded its reach to Florida, focusing on Orlando, Tampa, Jacksonville and the Miami-Palm Beach markets. According to its website, Steven Millstein founded the company in 1994 to “transform underperforming commercial real estate properties into top performers and to eventually provide enhanced services to the Millstein Family Office.”

During the Great Recession, the company focused on acquiring last-mile industrial properties and now the Millstein Family Office has a portfolio of more than 40 buildings with an aggregate value “in excess of $1 billion.” Currently, the company focuses on pursuing new value-add and “stabilized industrial” properties.