By Evelyn Jozsa
TriGate Capital has acquired a 368,081-square-foot industrial facility in Tampa. The asset marks the company’s second acquisition within the Tampa MSA. Big Box Property Owner traded the facility for $20.3 million, according to public records.
The warehouse is situated at 8800 Adamo Drive, at the intersection of 60 and 301 freeways and is within four miles of interstates 4 and 75. Additionally, downtown Tampa is merely 15 minutes from the property. The asset was built in 1972 and features built-to-suit office, 21-foot high ceilings, dock high loading and is fully sprinklered.
“Located at a major crossroad on the east side of town, the investment offers TriGate the ability to acquire a well-located property that favors both last mile delivery and regional distribution. Given the low vacancy and lack of big block availability in the submarket, we believe the property is well positioned for immediate stabilization,” said Adam Aultz, vice president of TriGate, in prepared remarks.
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