An entity controlled by Naples, Florida-based Keating Resources sold a 56,700 SF distribution center on 3.8 acres located at 5024 Uceta Road in Tampa to a Tampa-based entity controlled by Sanwa Growers Inc. on February 8 for $2,660,000. Founded in 1981, Sanwa Growers’ business operations include an agricultural concern growing and harvesting an array of products for ethnic cuisine with a focus on quality, freshness, and food safety. A common household name to the Tampa and Atlanta food-service markets, Sanwa provides distribution and wholesale produce, fish, meat, and other items.
Keating Resources purchased the vacant building on December 15, 2015 and have since installed a new roof, a new 2000 AMP electrical service, and made several other building improvements. Tom Chvala, Director of Central Florida for Keating Resources, said that the transaction is consistent with the value add strategy implemented by Gerard Keating, the company founder and owner, over the last 30 years. Chvala said the company sold the easterly adjacent 63,737 SF building to Coast to Coast Moving & Storage in May 2016 and expects to sell the 195,559 SF northerly adjacent building on Ten-X.com’s online auction platform. The online auction bidding process is from February 27 through March 1.
Keating added that the project required a dedicated team to successfully complete. The team included the following:
- Buyer Representative
KW Tampa Central
- Seller Representative
KW Commercial Tampa