INVESTMENT HIGHLIGHTS

• STRONG SUBMARKET FUNDAMENTALS – Located in the South Pinellas Industrial Submarket, Tampa MSA’s largest, this area has experienced a ±2.5% year-over-year growth in industrial rent. With minimal new construction under ±100K SF, replacement of similar assets is becoming increasingly challenging, boosting the value of existing inventory.
• PRIME STRATEGIC LOCATION – Centrally positioned in Florida’s most densely populated county, the property offers direct access to the Tampa metro. It is ideally located between US Highway 19 (±78,500 AADT) and Interstate 275 (±152,000 AADT), maximizing connectivity and visibility.
• RECENT CAPITAL IMPROVEMENTS – Ownership has recently replaced approximately two-thirds of the building’s roofing, significantly reduced near-term capital expenditure risk and improved long-term asset durability.
• ATTRACTIVE LEASE STRUCTURE – The property is currently leased on a full service gross basis with short-term commitments, allowing for near-term mark-to-market opportunities. Pro forma rents are underwritten at ±$15/SF, providing notable upside from existing rental levels.
• STRONG SUBMARKET DYNAMICS – Located in Pinellas Park, within the thriving Tampa MSA, this area has seen sustained rent growth and minimal new construction of comparable products, creating a favorable supply-demand imbalance that benefits existing assets.
• PRICED BELOW REPLACEMENT COSTS – With pro forma annual income projected at approximately ±$379,635 and in-place infrastructure, this asset offers an attractive cost basis significantly below current replacement cost, presenting a value-add opportunity for investors seeking yield and growth.