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| Rick Narkiewicz |
Tampa,
FL (Sept. 6, 2019) — Newmark Knight Frank (NKF) today announced the
sale of two industrial warehouses in metro Tampa.
The
warehouses total 224,192 square feet and are located at 14480 62nd Street
and 14550 62nd Street in Clearwater, Florida. The success of
the transaction reflects the demand for warehouse space in Pinellas County and
Tampa’s booming industrial market.
Pinch A
Penny sold the two Class C industrial buildings after expanding into new
facilities.
Immediate access to US-19 and the area’s deep
labor base were significant factors in the buyer’s decision to purchase the
buildings, which will undergo substantial improvements restoring the assets to
nearly new condition.
NKF’s
Senior Managing Director Rick Narkiewicz represented the seller, Pinch A
Penny.
“There is almost no
vacant land remaining in Pinellas County, which has created significant
barriers to entry,” Narkiewicz said.
“Several buildings
have been razed to make way for new warehouses in the area as developers try to
find creative options for limited space in a high demand market.
"After
considering those factors, the buyers made an informed decision to purchase two
assets that will be strategically repositioned, allowing the new owners to
accelerate their plans for the next phase of company growth.”
CONTACT:
Liz Maddux · Assistant Account Executive
1718 Peachtree St., Suite 1048 · Atlanta, GA 30309
M: 478-972-3210
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