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| Julia Silva |
TAMPA, FL – JLL Capital Markets announced it has successfully arranged a joint venture between Scannell Properties and Hoover Development Partners for the redevelopment of a key industrial site located north of the air cargo entrance at the Tampa International Airport.
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| Luis Castillo |
The subject property is positioned within one mile of the Air Cargo entrance for Tampa International Airport (TIA) in the Airport Industrial submarket.
The Airport Industrial
submarket is one of the tightest industrial submarkets in the Tampa area
boasting a 1% vacancy rate.
The newly branded TIA Logistics
Center is anticipated to include up to 245,000 square feet of
warehouse/distribution space together with commercial outparcels and will be
the largest industrial spec project delivered to this submarket in more than 15
years.
The developers are currently in
the permitting and entitlement approval phase and expect to break ground in
2021.
The
JLL Capital Markets team that arranged the joint venture was led by Julia
Silva, Luis Castillo and Cody Brais.
 |
| Cody Brais |
The JV entity, SP HDP #467 LLC closed on the acquisition of the 20-acre site on November 12, 2020 for $4,800,000.00. Donamae Clinebell, Vice President for Thomas D. Wood & Company, assisted with the land acquisition efforts.
“Industrial last-mile and e-commerce
demand has skyrocketed through the pandemic and the long-term outlook is very
bullish on the sector,” Silva commented.
“We are thrilled to have brought together key
industry veterans to create a strategic vision for this significant development
site near the Tampa International Airport.”
JLL’s leasing team of John Dunphy
and Peter Cecora have been retained to lease the asset.
“The Airport submarket is one of the best
performing submarkets in the Tampa MSA because of its centralized location and
close proximity to Tampa’s International Airport,” said Cecora.
 |
| John Dunphy |
“The majority of current tenants are here on a long-term basis, so supply is limited. Given that, along with the fact that we haven’t seen a new development of this scale in more than 15 years, we anticipate strong demand once construction begins.”
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About Scannell Properties
Scannell Properties is a privately owned real
estate development and investment company that focuses on build-to-suit and
speculative development projects throughout the United States, Canada and
Europe.
In business since 1990, Scannell offers
experienced leadership, a history of successful commercial development
projects, broad geographic reach and expertise in a wide range of building
types.
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| Peter Cecora |
About Hoover Development Partners
Hoover Development Partners is a subsidiary of
Legacy Development Partners, a Tampa-based real estate development company
founded by veteran real estate developer Ken Morin and attorney Bryan
Sykes.
Utilizing
their experience and expertise in developing challenging projects, Legacy
Development Partners is positioned to develop multiple commercial projects in
the greater Tampa Bay market and continue their legacy of successful
developments.
About JLL
JLL (NYSE: JLL) is a leading professional
services firm that specializes in real estate and investment management.
 |
| Bryan Sykes |
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL
is a Fortune 500 company with annual revenue of $18.0 billion in 2019,
operations in over 80 countries and a global workforce of over 92,000 as of
September 30, 2020.
JLL
is the brand name, and a registered trademark, of Jones Lang LaSalle
Incorporated. For further information, please visit jll.com.
CONTACT:
Kristen
Murphy
Senior Manager
Public Relations
Investor Services
JLL
One Post Office Square
Suite 3500
Boston, MA 02109
T +1 617 848 1572
M +1 617 543 4873
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