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  1. Business

Tampa Distribution Center sells for nearly $70 million

TAMPA — In a sign of Tampa's robust industrial real estate market, Tampa Distribution Center has sold for $69.25 million. The 51-acre center at 1212 N 50th St. consists of six industrial buildings that are almost 95 percent leased. Tenants include Consolidated Container Co., Feeding American Tampa Bay and Courier Express.

"The market for … multi-tenant industrial assets remains very strong," said Rick Brugge, executive managing director of Cushman & Wakefield. "These assets tend to perform well over time, and institutional investors have come to value the stability they provide to their portfolios. Tampa Distribution Center is a great example of a property that fits these characteristics."

Cushman & Wakefield arranged the sale to Link Industrial Properties, the U.S. industrial real estate arm of Blackstone, the giant New York-based private equity firm. The seller was Boston-based High Street Realty, which bought the center in 2015 for $43.38 million.

Contact Susan Taylor Martin at smartin@tampabay.com or (727) 893-8642. Follow @susanskate.

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