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TAMPA, FL-Atlanta-based IDI enters the market with the start of construction of Madison Industrial Park. The speculative master-planned business park will feature five distribution buildings and one million sf when built out.

The project is located on 58 acres off US Route 41 in the East Tampa/Interstate 75 industrial submarket. Construction is under way on the 385,619-sf Building A and the 147,197-sf Building E. The addition to its proximity to Interstates 4 and 75, the park provides access to the Port of Tampa, Downtown and Tampa International Airport.

IDI vice president of leasing Larry Dinner tells GlobeSt.com that IDI has hired CB Richard Ellis broker Rick Markiewicz to handle leasing for the project. No leases have yet been signed. “We expect to attract tenants seeking distribution, industrial or warehouse space,” Dinner says.

Building A is a cross-dock facility that will serve large- and medium-size distributors with space options starting in the range of 75,000 sf to 100,000 sf, up to 385,619 sf. Building E is a rear-load facility that will offer space options ranging from 20,000 to 50,000 sf. Both buildings will feature 30-foot clear height ceilings, early suppression fast response sprinklers and trailer parking. The buildings are expected to be completed in first quarter 2008. “This is one of the last pieces of available property in the East Tampa submarket,” Dinner says. “The positive absorption rates indicate a healthy demand for industrial space both in this submarket and across the Tampa market.”

The construction schedules for the three remaining buildings at the park are contingent upon leasing activity at Buildings A and E.

Also in Tampa, IDI plans to break ground in the fall on 301 Business Center, a master-planned business park in the East Tampa/Interstate 75 submarket north of the Madison Industrial Park site. The park will eventually have up to five buildings totaling 900,000 sf on 69 acres. Leasing efforts have not yet started for this property, Dinner says.

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