Keating Acquires Americold Industrial DC for $3.5MM
Press, Real Estate | January 04, 2016
Cushman & Wakefield, a global leader in commercial real estate services, announced today that it has brokered the sale of Americold Cold Storage Complex, a 348,859 square foot distribution center, on behalf of Keating Resources.
Cushman & Wakefield Senior Vice President Josh Tarkow represented buyer Keating Resources in the transaction valued at $3.5 million. Managing Director Ed Miller SIOR, CCIM, and Managing Director Dee Seymour MCR, CCIM, SIOR, from Colliers International represented the seller, Americold Logistics.
The Americold Cold Storage Complex is comprised of a total of four total distribution centers. Three distribution centers totaling 289,700 SF on 18.94 acres are located on U.S. Highway 41 in Tampa, and the fourth location is a 59,159 square foot distribution center on four acres in Plant City, Fla. The entire complex has the ability to provide freezer and cooler capabilities for food storage. The buildings are located at 1601 North 50th Street in Tampa and 209 South Alexander Street in Plant City. The Tampa site is located opposite of Tampa Distribution Center, which sold in August 2015 at $45.41 per square foot.
“We are pleased to have assisted Keating Resources with this transaction,” said Tarkow. “With the purchase of the Americold Complex, Keating Resources demonstrates its commitment to the Florida market and its confidence in Tampa Bay commercial real estate.”
“The Americold Cold Storage Complex is a fantastic property with tremendous potential,” said Gerard Keating, President and CEO of Keating Resources. “Americold is the best logistics complex in the Tampa Bay market based on its access to demand, as well as its central location near I-4 and the Selmon Expressway, which are both less than one mile from the site.”
The purchase of the Americold Cold Storage Complex brings Gerard Keating’s portfolio in Florida to nearly 1 million square feet. In addition to this purchase, Keating recently purchased a 506,000 square foot distribution center near Miami International Airport.