Saturday, October 20, 2012

Colliers International Tampa Bay closes industrial sale for $1M


  
Jan Boltres
 TAMPA, FL – Supporting a trend of strengthening of sale prices in the industrial market, Colliers International Tampa Bay recently closed a $1.065 million sale of a 25,800-square-foot warehouse, for $41.28 per square foot.

Colliers International Tampa Bay’s Jan Boltres, CCIM, represented the seller, Monument Leasing Company. John Anderson of European Equities represented the buyer, 7902 Anderson Road Crossings, LLC. The buyer plans to occupy the building after significant renovations are made.

John Anderson
According to Boltres, activity in the industrial market remained strong from January to June, with activity dropping off in July. Since then, there has been a strengthening trend in the industrial market, and this sale closed at a strong price compared to several recent sales for buildings of similar condition.

“Recently, pricing for this submarket has been a bit unpredictable,” said Colliers’ Boltres. “There is significant demand, but it’s being held up due to uncertainty with the economy, resulting in hesitant buyers.”

The building, located in a prominently industrial area at 7902 Anderson Road in Tampa, was built in 1981.

Contact:          

Leah Saunders
(727) 895-5030, x104
(813) 924-0367

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