Friday, September 6, 2019

Newmark Knight Frank Sells Two Industrial Warehouses Totaling 224,192 Square Feet in Metro Tampa, FL


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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