Refresco Beverages US, Inc. has leased a 364,084-square-foot industrial space in Tampa to serve as its distribution warehouse. The 10-year lease, valued at $18 million, is one of the largest new industrial leases in the Tampa Bay region since 2014. It is Refresco’s third warehouse location in the area.
Ryan Vaught and Robyn Hurrell of Colliers International represented the landlord, RealOp Investments. Foundry Commercial represented the tenant.
The property, located at 5210 S. 16th Avenue in Tampa, was previously home to Southern Glazer Wine & Spirits. RealOp purchased the property last year for $16.5 million, as the previous owner moved to Lakeland to consolidate its operation.
Refresco Beverages US Inc. is a North American subsidiary of a Netherlands-based soft drink bottler and distributor. The company is one of the largest bottlers in North America and works with national and international retailers and multinational brands.
“It made a lot of sense for another beverage distributor to take over this property,” said Vaught,
Executive Managing Director, Industrial Services at Colliers International in Tampa. “The property is in close proximity to their existing locations and will give Refresco the space they need to grow their operation.”
The transaction will grow Refresco’s footprint in the Tampa market by nearly 50%. The property includes approximately 18 acres of land for trailer parking.
“Certain industries are still very active in the midst of the COVID-19 pandemic, and the food and beverage industry is one of them,” said Hurrell, Managing Director, Industrial Services at Colliers International in Tampa. “In general, we’ve seen industrial users in Tampa require larger spaces as demand grows, particularly for food and beverage, ecommerce and healthcare. This lease is the perfect example of this growing trend.”
Refresco is expected to move into the space in July.
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