Panattoni Beats Out Wal-Mart for 30-Acre Tract

TAMPA, FL-Panattoni Development Co. of Sacramento has outbid Wal-Mart Sores Inc. for the $11.2-million purchase of Tampa International Center, a prime 30-acre, 600,000-sf industrial park at 1103 North 22nd St., brokers in a position to know tell GlobeSt.com. Panattoni paid Telecom Center LLC $373,333 per acre or $8.57 per sf for the property.

Panattoni officials couldn’t be reached by GlobeSt.com’s publication deadline to learn its plans for the site. However, area marketers familiar with the submarket tell GlobeSt.com Panattoni is considering a mixed-use redevelopment that could include a combination off office, retail, multifamily and perhaps a hotel.

Meanwhile, space is available for lease at the tract for $2.50 per sf, triple net, according to Bob Dikman, president, the Dikman Co. of Tampa which represented Panattoni and also has the California developer under contract on three other area sites.

Tim Callahan of Cushman & Wakefield of Florida Inc. was the listing broker for the 30-acre tract which has only three tenants–Tampa Tribune, WorldCom Network Services Inc. and International Core Co. of Tampa.