Teknia Networks will use the facility to expand its operations
ST. PETERSBURG, Fla. (December 11, 2013) – Colliers International Tampa Bay has closed the sale of an industrial facility in St. Petersburg for $1.25 million.
St. Pete 18th Street Warehouse, LLC purchased the 50,000-square-foot industrial facility. Teknia Networks, a reseller of print scanning machinery and equipment, is leasing the facility and plans to use it as a receiving and distribution point, in order to grow its current operations.
Pat Marzulli, CCIM, SIOR, Director of Industrial Services for Colliers International Tampa Bay, represented the seller, Lock Up St. Petersburg, LLC.
Lock Up St. Petersburg is a subsidiary of BRB Development, LLC, based in Illinois. After BRB purchased the facility in 2007, the north half was developed into a two-story, air-conditioned, self-storage facility. The rest of the space is used for warehousing, assembly or other commercial uses.
“This property was one of the largest remaining spaces in the general downtown area around Tropicana Field,” said Marzulli. “The sale is an example of the attractiveness of acquiring an owner-user facility in this low interest rate environment.”
The facility is located at 155 17th St. S in St. Petersburg.
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