Scannell Properties and Hoover Development Partners have formed a joint venture to develop TIA Logistics Center, a 245,000-square-foot of warehouse and distribution center in Tampa. The project is the largest speculative industrial project in Tampa in the last 15 years.
The joint venture acquired the 20-acre development site in November for $4.8 million. JLL's Julia Silva, Luis Castillo and Cody Brais represented the companies in forming the joint venture.
The development project is located in the Air Cargo entrance for Tampa International Airport in the Airport Industrial submarket. This is the most supply-constrained submarket in Tampa with a vacancy rate below 1%, according to research from JLL. The development is currently in the pre-construction phase of the project, currently working on permitting and entitlement approval. Construction is scheduled to begin sometime in 2021.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Kelsi Maree Borland
