Tampa industrial park home to Ball Corp. sells for $94.5 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: May 13, 2024

Tampa Commerce Center, an industrial park leased to Ball Corp., has sold for $94.5 million.

The buyer, a corporate entity linked to New York-based Blackstone, paid cash for the industrial park, Hillsborough County property records show.

The seller was Houston-based global developer Hines, which developed the park and wants to redevelop Tropicana Field in a partnership with the Tampa Bay Rays. In October 2023, Hines also bought a warehouse in East Tampa, home to unicorn startup Cirkul, for $46 million.

The 600,000-square-foot, four-building campus broke ground in May 2022; Ball Corp. signed a lease for the entirety of the park in October 2022, according to CoStar. E-commerce behemoth Amazon.com also has a 633,000-square-foot fulfillment facility nearby on Harney Road.

“This is an untapped market with strong growth potential for the industrial sector; we look forward to delivering a best-in-class asset to the area to meet the region’s distribution needs,” Ryan Wood, managing director at Hines, said in a statement when the facility began construction.

Cushman & Wakefield Inc. marketed the property for sale. A Cushman & Wakefield spokesperson declined comment on the transaction.

The sales price reflects the growth of Tampa Bay’s industrial real estate market. In 2018, a 605,412-square-foot warehouse in Lakeland sold for $59.6 million — what was then considered “top of market pricing.” Tampa Commerce Center’s sales price breaks down to $157 per square foot.

JLL Inc. marketed Tampa Commerce Center for lease. Miller Construction Co. was the general contractor; it was designed by Randal Paulson Architects.