Keating sells DC to Coast to Coast Moving & Storage
Press, Real Estate | June 24, 2016
Naples, Florida-based Keating Resources sold a 63,737 SF square foot distribution center on 6 acres located at 5035 Uceta Drive in Tampa to Tampa-based Coast to Coast Moving & Storage on May 24 for $2,868,165. Coast to Coast will utilize the distribution center for management of furniture in-transit owned by third party clients. Business operations including storage, relocation services and distribution of clients assets.
Keating Resources purchased the vacant building on December 15, 2015 for $900,000 and invested $600,000 to install a new roof and 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 purchased 3 other distribution centers in the Tampa market on the same date in December, all of which he expects to be sold or leased by year end.
Keating added that the project required a dedicated team to successfully complete.
- Buyer Representatives
Newmark Grubb Knight Frank
- Seller Representatives
Ed Miller CCIM, SIOR
Dolores Seymour MCR, CCIM, SIOR
Managing Directors, Industrial Services