Dogwood Industrial Properties has purchased a 90,037-square-foot industrial property in Tampa. The property, located at 1909 N. US Highway 301, is a trans-load facility, offering both dock-high and grade-level loading that allow tenants to receive shipments from large trucks and distribute product locally in smaller trucks. It was fully occupied at the time of sale.
Ryan Vaught and Robyn Hurrell of Colliers International represented the seller, Birtcher Anderson Realty, of San Juan Capistrano, Calif. The buyer was self-represented.
“Very few assets have a trans-loading configuration that allows for delivery and distribution in such a functional layout,” said Vaught, Executive Managing Director, Industrial Services for Colliers International. “This property has grade-level loading docks on the west side of the building and dock-high loading on the east side of the building, which allows product to easily be received and then distributed from the space.”
Trans-load facilities are unique in that they can accommodate both large semi-trucks and smaller box trucks and vans. Inbound shipments are received on 53’ trailers, then transferred from pallets and repackaged for consumer consumption. Goods are then loaded onto box trucks or vans and delivered to local retailers or direct to consumers.
Infill industrial properties, like this one, are the final distribution point before the inventory reaches stores or customers.
“We’re seeing a continued institutional interest in acquiring infill industrial assets that are well-located with strong tenancy in place,” said Hurrell, Managing Director of Industrial Services for Colliers International. “This particular property had a great deal of interest because of this.”
Current tenants include AriZona Iced Tea, the Tampa Bay Times and VPX Nutrition.
About Colliers International Group Inc.
Colliers International (NASDAQ: CIGI) (TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, has delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. To learn more about how we accelerate success visit corporate.colliers.com, Twitter: @Colliers or LinkedIn.