Keating-Easton Set Tampa Orlando Record
News, Real Estate | April 30, 2021
A joint venture between Nebraska-based Keating Resources and Miami-based The Easton Group sold a new technology-enabled, 100% leased, 3-tenant industrial building for what industry sources say is a record per square foot price in combination and capitalization rate for the Tampa Orlando market. The 178,367 SF building on 18 acres is located on the last industrial zoned bayfront site near booming downtown Tampa.
Mike Davis, Vice Chair at Cushman & Wakefield, who led the sale process, said offers for the property were received from three continents. Davis commented that the property is truly a legacy property based on Interstate 4 frontage, with a bayfront location and design features that attract all potential users including advanced manufacturing, last-mile distribution, showroom, and office, which is exactly what happened with tenant mix.
Keating Resources is owned by Gerard and Alec Keating. The company invests in real estate in Florida, Texas, South Dakota, Wyoming, and Nebraska and has offices in Atkinson, Nebraska, and Dallas, Texas. The Easton Group is a family-owned, Miami-based, real estate investment firm with over 4,000,00 SF of real estate under management.