Keating Resources

Acquisition of Two Distribution Centers in Tampa

Press, Real Estate | December 18, 2018

A partnership of Naples based Keating Resources and Miami based Easton & Associates purchased two distribution centers totaling 201,621 sf on 18.2 acres located at 5300 East Adamo Drive in urban Tampa for $9,750,000 on December 18, 2018. The property includes 4 excess acres of zoned uplands which the buyers intend to improve for outside storage and trailer parking.

The 6 tenant, 28’ clear height, concrete buildings are located in an A+ location near downtown Tampa and a full interchange on Interstate 4. The distribution centers are 69% leased on a long term basis to WI based ABC Supply, NC based Green Fiber and Tampa-based Brubacker. The Tampa office of Cushman & Wakefield has been hired to lease the two vacant units of 22,000 SF and 40,000 SF.

The off market transaction was completed by Nicolas Hanson with the Orland office of Marcus & Millichap and Doug Mandel with the Miami office of M&M.

State Farm provided a long term fixed rate first mortgage arranged by Jeff Robertson and Paul Johnson with Miami office of Northmarq.