Tampa warehouse, industrial land sell for $53 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Mar 7, 2024

An investment firm has spent $53.1 million on two industrial properties in Tampa.

EQT Exeter, based in suburban Philadelphia, paid $49.2 million for the 436,650-square-foot warehouse at 6708 Harney Road, according to Hillsborough County property records. The same group also acquired an adjacent 13.73-acre property at 6400 Sligh Ave. for $3.9 million.

Both deals closed March 1, according to county property records. The sale appears to be a cash transaction, as a mortgage has not been filed.

The seller, West Palm Beach-based Highbrook Investors, paid $35.275 million for the warehouse and $2 million for the land in 2021, according to property records.

In 2022, FedEx Ground leased 308,237 square feet in the warehouse, according to CoStar Group Inc.

While the industrial real estate market has cooled nationally, Tampa's industrial market soared to new heights in 2023. Last year, the Tampa market saw the highest absorption, or the rate at which space is occupied, and the most new space delivered to the market since the Great Recession, according to data from CBRE Group Inc.