TAMPA, FL, June 27, 2019 — Cushman & Wakefield has arranged a 238,437-square-foot lease renewal at Tampa’s East Meadow Distribution Center on behalf of the owner, an investor account advised by UBS Asset Management, Real Estate & Private Markets, Real Estate US. The tenant is ITG Brands, the third-largest tobacco company in the United States.
According to Cushman & Wakefield data, the long-term renewal marks the largest industrial lease for the Tampa Bay market in the past 12 months.
Cushman & Wakefield Senior Director Josh Tarkow, SIOR, represented UBSA in the lease negotiations and serves as the exclusive leasing advisor for the facility. Newmark Knight Frank’s John Esposito and Rick Narkiewicz, SIOR, represented ITG Brands.
East Meadow Distribution Center is located at 2601 Tampa E. Blvd. with frontage along U.S. Highway 301. ITG Brands occupies the free-standing, single-tenant building in its entirety.
The facility is situated within Tampa’s East Side Industrial Submarket, with convenience to Interstate 75, Interstate 4, State Road 60 and the Selmon Expressway toll road. It also provides close proximity to the Port of Tampa and Port Manatee. Further, the property has two points of ingress and egress and is secured by fencing and a guard station.
“East Tampa Distribution Center is a marquee facility within one of Tampa’s most sought-after industrial markets, and we are pleased that ITG Brands saw value in continuing to do business here,” said Tarkow. “Overall, the Tampa Bay industrial market continues to perform exceptionally well, and we expect leasing activity to accelerate as the year progresses.”
About Cushman & Wakefield:
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida