Avison Young wins coveted leasing assignment of institutionally owned 1,354,000-sf of industrial product in Tampa
EastGroup Properties, Inc.’s Tampa Airport Portfolio spans 31 buildings
Tampa, FL — Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has been awarded the leasing assignment for EastGroup Properties, Inc.’s Tampa Airport portfolio which encompasses 31 buildings spanning 1,354,000-square-feet of industrial product. Tampa’s Airport Industrial submarket makes up the bulk of the portfolio at 31 buildings and East Tampa is home to one property.
Avison Young Principal Trey Carswell, who is based in the real estate firm’s Tampa office, will serve as the exclusive leasing agent for the 31 buildings. This assignment comes less than six months after Avison Young was awarded the exclusive leasing assignment of a 200,000+/-square foot class A multi-tenant industrial distribution center in East Tampa, bringing its total agency industrial leasing total to 2,671,600 square feet in Tampa.
“While much of the recent industrial discussion in Central Florida has been on the impact of ecommerce and growth of large-scale distribution hubs, a leading indicator of economic recovery and growth resides in the small to mid-sized tenant / business,” said Carswell. “As demonstrated by single digit vacancy rates in Tampa’s East and Airport Industrial submarkets, demand from small businesses and ancillary vendors to larger users can be seen as a good indicator of Tampa’s recovering economy and bright future.”
The new assignment for Avison Young includes the following industrial assets:
[if !supportLists]· [endif]Airport Commerce Center – 2 buildings located at 5415 and 5433 West Sligh Avenue
[if !supportLists]· [endif]Benjamin Distribution Center I, II & III – 3 buildings located at Benjamin Center Drive and West Sligh Avenue in Tampa.
[if !supportLists]· [endif]Expressway Commerce Center I & II – 3 buildings located at 5821-5845 Barry Road in Tampa.
[if !supportLists]· [endif]JetPort Commerce Park – 7 buildings located at JetPort Industrial Boulevard and Benjamin Road in Tampa.
[if !supportLists]· [endif]Tampa West Distribution Center I-V – 4 buildings located at Tampa West Boulevard and Waters Avenue in Tampa.
[if !supportLists]· [endif]Westlake Distribution Center I & II – 2 buildings located at Corporate Lake Drive in Tampa.
[if !supportLists]· [endif]Westport Commerce Center – 3 buildings located at 6011-6015 Benjamin Road in Tampa.
[if !supportLists]· [endif]56th Street Commerce Park – 7 buildings located at N. 56th Street and N. Commerce Park Boulevard in Tampa.
“Not dissimilar to what is driving the recent leasing activity of large tenants and what will untimely drive further spec space in our area is the rise in consumer confidence coupled with a stabilization in the housing market,” continued Carswell. “The influx of new small to mid-sized businesses or those looking to expand post-recession is a positive indicator for the market, as a promising outlook sparks growth.”
Nearly three years since opening its first Florida office in October 2012, Avison Young has strategically grown its footprint from one office and 30 employees to representation in all key geographic locations within the state and 150 employees. Today, Avison Young represents 3,984,409 square feet of agency industrial leasing assignments in Florida.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,000 real estate professionals in 69 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.
EastGroup Properties, Inc. is a self-administered equity real estate investment trust focused on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona, California and North Carolina. Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup’s portfolio currently includes over 36 million square feet.