Tampa, FL – July 6, 2015 – CBRE arranged the sale of a 683,750-square-foot industrial complex in Tampa, Florida. The asset at 6422 Harney Road was acquired by 6422 Harney Road LP for $18.25 million. CBRE Tampa-based brokers Brian Rettig, SIOR, Gary Bauler, LEED AP, and Dale Peterson, CCIM, represented the seller, LMIW II, LLC. CBRE also received the property management and leasing assignment from 6422 Harney Road LP to assist in the
repositioning of the asset moving forward.
“This is an excellent value-add opportunity for 6422 Harney Road LP in the heart of the East Tampa/I-75 Corridor industrial submarket which is the Tampa Bay Region’s largest,” said Brian Rettig, First Vice President with CBRE Industrial Properties. “The location is highly coveted by many businesses due to its strategic access to Interstates 4 and 75, the Port of Tampa, and a consumer base of 8.6 million Floridians within a 100 mile radius of the property.”
Updated since its 1976 construction, 6422 Harney Road features over 430,000 square feet of 29’ clear dry warehouse space, 183,000 square feet of 27’5” clear cold storage space, and additional ancillary office and mezzanine areas. The industrial building is the former distribution center and corporate headquarters for Kash n’ Karry Food Stores, which supported 98 supermarkets, 35 liquor stores, and two super warehouse stores in Florida from the site. The complex has since been converted to a multi-tenant industrial building. Located approximately five miles from the Port of Tampa, the property also boasts exceptional access to Interstate 75 and Interstate 4.
6422 Harney Road LP’s plans call for major capital improvements to the asset and an overall repositioning to an institutional quality level.