Cushman & Wakefield announced today that the commercial real estate services firm has arranged the acquisition of the Tampa Bay Times Manufacturing and Distribution Center, located in St. Petersburg, Florida. The final sale price was $21 million.
Rick Brugge, Mike Davis, Rick Colon and Dominic Montazemi, with support from John Jackson, JT Faircloth, and Bruce Erhardt, represented the seller, the Tampa Bay Times, in the transaction. Twenty Lake Holdings acquired the property.
“The former printing plant operation of the Tampa Bay Times offered a unique and sizeable industrial investment opportunity located in the most densely populated county in Florida which is arguably the fastest growing state in the country,” Brugge said. “Because of this, it generated significant investor interest.”
Located at 1301 34th Street N., the 27-acre property includes five buildings totaling 317,882 square feet including a 173,120-square-foot printing plant, 83,000-square-foot warehouse, 10,584-square-foot vehicle maintenance facility and two single-tenant warehouse buildings of 31,978 and 17,400 square feet. The property offers a highly desirable location 2.2 miles from Interstate 275, one of the most traveled transportation arteries, and rail accessibility