TAMPA, FL-Port Ybor, a planned 564,000-sf, $40-million waterfront industrial park, will be growing by another 156,000 sf when its second bulk distribution/warehouse center is completed next year. Trammell Crow Co. and New York-based ING Clarion Partners plan to break ground in January on the $8-million, 156,000-sf structure.

The decision to start construction on the second spec building follows the JV partners signing a full-building lease on the first distribution center to debut at the site. That lease, to the US Postal Service, is for 281,600-sf and has a lifespan of more than seven years.

Port Ybor is an inter-model, mixed-use complex being developed in phases on 33 acres in the Port of Tampa. Trammell Crow is handling leasing and property management. The park was originally scheduled to have 490,000 sf of industrial bulk warehouse and distribution space and 130,000 sf of offices, as GlobeSt.com previously reported.

Bob Abberger, managing director of Florida development services for Trammell Crow, calls Port Ybor "the largest-ever speculative industrial project in the city of Tampa." He says the project was "designed to bring a variety of new business opportunities to the port and inject new life into the area's economy." A two-story, 32,000-sf office building is also planned for the complex in 2007.