REBusinessOnline

Cushman & Wakefield Brokers $103.6M Sale of Industrial Asset in Metro Tampa

RUSKIN, FLA. — Cushman & Wakefield has brokered the sale of a 1 million-square-foot distribution center located at 3350 Laurel Ridge Ave. in Ruskin, a suburb of Tampa. The transaction was the largest industrial sale in Tampa history in terms of both size and value, according to Cushman & Wakefield research. The price was undisclosed, but public records set the sale price at $103.6 million. USAA Real Estate Co. sold the LEED Silver-certified asset to Cole Office & Industrial REIT Inc., a non-listed REIT sponsored by Cole Capital, the investment management business of Phoenix-based VEREIT. Built in 2014, the property is fully leased to a Fortune 50 retailer and features 40-foot clear heights, a 200-foot truck court, 92 rear-load doors, 54- by 50-foot column spacing, an ESFR sprinkler system and trailer parking. Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield represented USAA Real Estate in the transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties