Trammell Crow, STAG Industrial break ground on Gibsonton warehouses
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 16, 2023

A partnership of two national industrial real estate developers has started construction on a warehouse project in South Hillsborough County.

Trammell Crow Co., which relaunched a Central Florida presence in 2021, and STAG Industrial said they have broken ground on two warehouses on Powell Road in Gibsonton. In August, the partners paid $4.9 million for an 18.64-acre parcel and $3.9 million for a 12.42-acre parcel along Powell Road. The project has started construction speculatively, without any tenants in place.

It is Trammell Crow’s first project in the Tampa area. It is CBRE Group Inc.’s development subsidiary and a separate, unaffiliated company from Trammell Crow Residential, which is pursuing multifamily development in the region.

Known as 100 and 200 Powell, the warehouses will be 160,000 and 140,000 square feet, respectively. Hillsborough County building permits show a combined project cost of $21 million for the shells of the warehouses.

Wellbro Building Construction is the general contractor on the project; C4 Architecture is the architect. Atwell is the civil engineer, and DMS is serving as LEED consultant, Trammell Crow said.

“The Tampa industrial market has seen a tremendous amount of population growth resulting in additional development and increased rental rates in recent quarters, which is a direct result of the low vacancy and high demand,” Brendon Dedekind, senior vice president at Trammell Crow, said in a statement. “There has been increasing interest from small to midsized tenants looking to grow their industrial footprint in this market, making our Powell project ideally suited to meet the needs of a variety of users in this sector.”

A team of brokers from CBRE’s Tampa office will market 100 and 200 Powell for lease. CBRE’s Kris Courier and Gary Bauler, and Julia Silva, who was then with JLL, helped secure the opportunity for STAG.