Pinellas County warehouses sell for combined $4.1 million
By Breanne Williams
Tampa Bay Business Journal
Published: Oct 17, 2023

Two Pinellas County warehouses that were built in the 1970s have sold to Florida investors.

The properties — one in Gulfport and one in Largo — each were sold for just over $100 per square foot.

Gulfport warehouse

A warehouse in Gulfport has sold for $2.285 million.

The sale closed on Oct. 2, according to a deed filed in Pinellas County, and the sales price breaks down to roughly $103 per square foot.

The buyer was an entity linked to Justin Rutherford, owner of Torpedo Design. The recreational marine product company has been a tenant in the building for the past two years. The entity also secured a loan with JPMorgan Chase Bank.

Dan Huntington of Bridgewater Commercial Real Estate was the listing agent for the space.

The 22,172-square-foot warehouse at 1509 49th St. S was built in 1972. The flex building sits on a 0.85-acre lot and includes three grade-level doors that are built for tractor-trailer distribution and delivery. Approximately 15% of the warehouse is set aside as office space.

“I’m quite familiar with this property since I also represented the seller when he bought it in 2019,” Huntington said in a release. “It’s been a nice piece of investment property for him, and it’s close to the beaches, Interstate 275 and downtown St. Pete. The tenants, who were placed in the space by Bridgewater as well, obviously liked it too and were smart enough to purchase it so they can control it for years to come.”

Largo warehouse

A warehouse and showroom in Largo has sold for $3.7 million.

The sale closed on Sept. 22, and the buyer was Cabinets Wholesale of Orlando Inc., according to a deed filed in Pinellas County. The sales price breaks down to approximately $109 per square foot. The site last sold in Sept. 2016 for $1.9 million.

The warehouse at 13553 66th St. N is approximately 33,956 square feet and sits on a 1.34-acre lot. The building has an 18-foot clear ceiling height and was built in 1973.

The property is just under 6 miles from the St. Pete-Clearwater International Airport and 17 miles from Tampa International Airport.