Lack of product available in market reflects investor and tenant demand,
core-plus assets below replacement cost projected to have brisk sale cycle
Tampa, FL — Avison Young has been selected to facilitate the sale of 5100 W. Linebaugh Avenue, a class A 90,075 square foot core-plus, fully occupied multi-tenant industrial building located at 5100 W. Linebaugh Avenue in Tampa’s Airport / Westshore submarket.
On behalf of Shining Star Properties, LLC, Avison Young’s Trey Carswell, Principal, and David Duckworth, Vice President of Investment Sales, are listing the asset unpriced. The sale process for this unique offering is expected to be brisk, as the asset fits perfectly within the wheelhouse of buyers looking to achieve a high return on investment.
“In a submarket with no new construction and vacancy below 5 percent, the lack of large blocks of quality industrial space make this asset extremely attractive for both investors and a patient owner/user,” said Carswell. “With strong in-place income and upside potential of future rollover of below market leases, this institutional quality asset is available below replacement cost.”
The distribution warehouse and showroom facility’s tenants benefit from its proximity to Tampa Bay’s largest employment hub boasting 13 million square feet of office space containing 4,000 businesses with more than 93,000 employees. Through its direct frontage on Linebaugh Avenue, the building affords great exposure to showroom tenants, including Empire Office, the largest commercial furniture dealer in the world.
Built in 2002, 5100 W. Linebaugh is a 90,000 square foot Tilt-wall, 24-foot clear height, dock high building that sits on 5.32 acres. Minutes from Tampa International Airport, St. Pete/Clearwater International Airport, and Port Tampa Bay, the building is accessible from the most traversed thoroughfares in the region.
Avison Young’s Florida operations provide best-in-class services to local, national and international clients while also networking with the firm’s other offices across the U.S. and Canada. For more information about Avison Young, please contact Mr. Carswell at (813) 288-1800 or Mr. Duckworth at (954) 903-1800 or visit http://www.avisonyoung.com/offices/tampa.
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 71 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.