St. Petersburg, FL — Barkett Realty, headquartered in St. Petersburg, FL, is pleased to announce the sale of a 6.54 acre industrial site in Tampa, FL, to Stonelake Capital Partners, out of Houston, TX.
The property, located at 5402 & 5424 Hangar Court and within a professional park in Hillsborough County’s North Airport Targeted Redevelopment Program area, closed for $3.7 million last week.
A large draw to the property was that Barkett Realty assisted ownership in navigating the site plan entitlement process with Hillsborough County, which pre-approved the site for a 103,000 +/- SF grade level, last mile distribution center. Barkett was also instrumental in nationally marketing the property and attracting a large-scale, national developer in Stonelake to the site.
“At a cost of $565,000 per acre ($13 per square foot), this is at the absolute top of the market for industrial land in the Tampa Bay market,” said John Barkett, MAI and owner of the real estate firm. He added, “This is a solid indication of the growth and demand in Tampa Bay across all verticals when a company such as Stonelake Capital Partners is investing here.”
The most current updates on this park and similar projects are available on:
Barkett Realty is a boutique real estate company offering a full service solution to both commercial and residential clients. With decades of combined experience in sales, leasing, investment development, appraisal services and property management, Barkett Realty is a one-stop shop that will exceed your real estate needs while turning transactions into relationships.