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TAMPA-Building products supplier the Parksite Group has leased 210,000 sf in a building under construction off Madison Avenue and US Highway 41 in the Riverview area.

CB Richard Ellis vice presidents Gary Bauler and Brian Rettig brokered the transaction which was completed in early July. Parksite plans to use the space as a showroom and distribution center for its surfaces division, which distributes granite, Dupont and Corian products used for counter tops in kitchens and bathrooms. Bauler tells GlobeSt.com that finding space in the tight market conditions Tampa is experiencing was a challenge. “The space wasn’t available at all,” Bauler says. “We had to lease the building before it was under construction.”

The building is expected to be completed in mid-2007, at which time Parksite will move into the space. Parksite has headquarters in Batavia, IL, and markets branded and specialty building products through two additional business units, Parksite Plunkett-Webster and Parksite Appliance Solutions.

The Parksite lease is reflected of strong leasing activity in the Tampa industrial market. According to a CB Richard Ellis Q2 industrial market report, there was 322,000 sf of net absorption during the quarter with year-to-date absorption of just more than one million sf. The vacancy rate dropped to 4.2% during Q2 with average asking rates rising to $6.32 per sf. “As available space becomes a premium, new construction and available space is often leased up before it is even on the market,” the report notes.

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