Krauss Organization Announces Sales Milestones
TAMPA, FL – The Krauss Organization, which for more than 65 years has provided relationship-based, value-added commercial real estate services in the Tampa Bay region, announces it has closed on the sale of multiple warehouse/industrial properties.
The deals included two 6,000-square-foot industrial buildings at 150-160 Kid Ellis Road, Mulberry; a 10,080-square-foot industrial building at 4612 107th Circle, Pinellas Park; and two office-warehouse buildings totaling 12,280 square feet at 8801 Maislin Drive, Temple Terrace.
Senior Associate David Sarich was the broker on each of the transactions.
TAMPA WAREHOUSE MARKET SEEING HIGH DEMAND
For the Mulberry sale, comprised of two buildings, Sarich represented the buyer, a private investor. Maria Mahoney, of the Mahoney Group, represented the seller, Thomas J. Principato. The property sold for $460,000 or approximately $38.33 per square foot. Building number one remains fully occupied by Fastenal, an industrial parts supplier, with current lease through 2019. Building number two is fully occupied by Titan Water Technologies, with extended lease ending in February, 2018. This represents the first sale of this owner-constructed property.
Sarich represented the same private investor for the closing of the Pinellas Park property, with Pat Calhoun of Smith & Associates representing the seller, Michelle Wool. The property sold for $495,000 or approximately $49 per square foot. The building remains fully occupied with the tenant, the US Installers Group, a carpet installer for Home Depot, extending the lease for three years.
Finally, Sarich represented the owner-occupier of the Temple Terrace property, Everglades Investment LLC., for the sale to Versa Integrity Group, which completed the purchase of the 2.78-acre site without buyer representation. The property, which will be occupied by the new owner, sold for $1.45 million or approximately $118 per square foot.
“The Temple Terrace sale is nearly a benchmark for valuation in that industrial park,” noted Sarich. “Tampa Bay is one of the nation’s hottest emerging industrial warehouse markets. Each of these three purchases represented a compelling value proposition for both buyer and seller.”
ABOUT THE KRAUSS ORGANIZATION
Founded in 1952, The Krauss Organization (www.thekraussorg.com) is a team of experienced, independent, relationship-oriented commercial real estate advisors. The firm has been trusted through numerous economic cycles for 65 years to guide clients through transactions with a personal commitment to win-win results. Local access to the decision maker at The Krauss Organization translates to greater value in commercial real estate transactions that are crafted promptly in win-win terms. The Krauss Organization leverages its combined 250 years of market knowledge to generate value for local, national and international clients. For a free consultation on all of your commercial real estate needs, please call 813-885-5656, or e-mail our company President, Ryan Lolkus, at firstname.lastname@example.org.