TAMPA, FL—Duke Realty Corp. has named Jones Lang LaSalle as exclusive leasing agent for three industrial parks in Tampa, FL. Duke's industrial portfolio includes Fairfield Distribution Center in East Tampa and Eagle Creek Business Center near Tampa International Airport.
Both properties total 1.25 million square feet of class A industrial space, which has been completed in the last 10 years. The industrial commercial real estate assignment also includes the site of the proposed Big Bend development, which has entitlements for up to 1.4 million square feet of institutional-grade industrial space in the emerging southern Hillsborough County region.
JLL senior vice presidents John Dunphy and Robert Alter, together with associate broker Thomas Grandoff, are spearheading the leasing efforts at the three industrial parks. Dunphy, who heads JLL's Central Florida Industrial group out of their Tampa office, says this is the highest quality and best located industrial portfolio in the Tampa Bay area.
“The different properties allow us to accommodate the needs of a wide range of companies with requirements in three distinct service areas,” Dunphy says. “As demand for industrial space heats up, these properties are positioned to capture tenants seeking class A industrial space located near Florida's main transportation networks.”
The Fairfield Distribution Center consists of eight buildings with immediate access to U.S. 301 and Interstate 4, connecting Tampa to Orlando. The industrial park, which is located in one of Tampa's largest and most active industrial submarkets, is minutes from Interstate 75, the north/south transportation corridor linking South Florida to the Canadian border.
Fairfield currently has available 103,000 square feet of distribution space in one building and another 14,400-square-foot air-conditioned space, with about 20% designed for office use, in a second building. Property highlights include 30-foot clear ceiling height, 230-foot building depth, 50-foot x 50-foot column spacing, 180-foot shared truck court and ESFR sprinkler system.
Eagle Creek, which consists of three buildings, is on Florida Mining Boulevard, just north of Waters Avenue, and TIA's air cargo hub. The industrial park is currently 100% occupied. The park's main features include: 24-foot minimum clear ceiling height, 140-foot building depth, 40-foot to 50-foot bay spacing, 160-foot shared truck court and ESFR sprinkler system.
Duke is building The Big Bend development at U.S. 41 and Big Bend Road. The park will offer build-to-suit and lease opportunities to tenants looking for 50,000 square feet up to 1.4 million square feet of class A industrial space. Development plans call for 32-foot minimum clear ceiling heights, 50-foot-plus wide column spacing, ESFR fire protection, and ample loading and trailer storage areas.
“Our class A industrial portfolio is in the hands of a class A real estate services firm,” says Ed Mitchell, Duke Realty's regional senior vice president. “This strategic partnership will benefit tenants looking for great space and a professional team with which to align and respond to their regional distribution needs in the greater Tampa area.”
The assignments come at a time when the Tampa industrial market is getting national attention. Case in point, Precision Valve & Automation Inc. recently announced a desire to leave Albany, New York and head south largely due to tax incentives. The founder of Precision Valve & Automation Inc., whose largest customer is Apple Inc., is quoted saying that his employees would “do cartwheels all the way down to Tampa” to get out of New York. Recently, Internet retail giant Amazon.com began construction of a massive distribution center in Hillsborough County, about 3 miles from the Big Bend development site.
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