{"id":1004556430,"date":"2021-11-02T08:46:19","date_gmt":"2021-11-02T16:46:19","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004556430"},"modified":"2022-12-08T17:18:42","modified_gmt":"2022-12-09T01:18:42","slug":"scannell-properties-sells-tampa-bay-warehouse-for-95m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/","title":{"rendered":"Scannell Sells Tampa Bay Warehouse for $95M"},"content":{"rendered":"<div id=\"attachment_1004556435\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004556435\" data-attachment-id=\"1004556435\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/1950-102nd-ave-north\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg\" data-orig-size=\"2183,1639\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1950 102nd Ave North. Image courtesy of JLL Capital Markets\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1950 102nd Ave North. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg?w=1024\" class=\"wp-image-1004556435 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\"><\/a><p id=\"caption-attachment-1004556435\" class=\"wp-caption-text\">1950 102nd Ave North. Image courtesy of JLL Capital Markets<\/p><\/div>\n<p>Scannell Properties has sold a 236,976-square-foot distribution center in St. Petersburg, Fla., for $94.5 million. FedEx Ground has been the property&#8217;s single tenant since its completion in 2017.<\/p>\n<p>A JLL Capital Markets\u2019 team including Senior Managing Director John Huguenard and Managing Director Luis Castillo brokered the transaction on behalf of the seller.<\/p>\n<p>The concrete-built distribution center offers 30-foot clear heights and 61 dock-high loading doors, as well as fire suppression systems. Sitting on a 63-acre site, the asset can be expanded by 75,000 square feet.<\/p>\n<p>Located at 1950 102nd Ave. North, in an industrial area 8 miles north of downtown St. Petersburg, the warehouse is 14 miles from the Tampa International Airport via Interstate 275 and roughly 16 miles west of Port Tampa Bay.<\/p>\n<p>The Tampa industrial market has seen consistent growth over the last quarters. With a moderate construction pipeline of 3 percent of existing stock and another 1.6 percent of inventory in the planning stages, demand in the metro remains high. This is mirrored by a steady decrease in vacancy rates, which was as low as 4.8 percent in September, a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-keeps-trajectory\/\">CommercialEdge report<\/a> shows. The figure is almost 100 basis points tighter than the U.S. average.<\/p>\n<h2>Growing the portfolio<\/h2>\n<p>Scannell Properties has been busy developing new projects in recent months. In April, the company broke ground on a <a href=\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-breaks-ground-on-arizona-industrial-development\/\">388,000-square-foot speculative industrial development<\/a> in Glendale, Ariz. Once completed, the distribution center will add to the company\u2019s 3 million square feet of industrial projects in the Phoenix-area.<\/p>\n<p>That same month, the company announced plans for a <a href=\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-launches-100m-kansas-city-industrial-project\/\">$100 million logistics park<\/a> in Bonner Springs, Kan. The project, dubbed Compass 70 Logistics, will total 2 million square feet of industrial space across three facilities. At the time of the announcement, Scannell Properties had two other Kansas developments in the pipeline. &nbsp;<\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property has been a FedEx Ground center since 2017.<\/p>\n","protected":false},"author":1366,"featured_media":1004556435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742],"tags":[33339,44006,39253,38446],"class_list":["post-1004556430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","tag-fedex","tag-jll-capital-markets","tag-john-huguenard","tag-scannell-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Scannell Sells Tampa Bay Warehouse for $95M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scannell Sells Tampa Bay Warehouse for $95M\" \/>\n<meta property=\"og:description\" content=\"The property has been a FedEx Ground center since 2017.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-02T16:46:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:18:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2183\" \/>\n\t<meta property=\"og:image:height\" content=\"1639\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ioana Muresan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/\",\"name\":\"Scannell Sells Tampa Bay Warehouse for $95M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg\",\"datePublished\":\"2021-11-02T16:46:19+00:00\",\"dateModified\":\"2022-12-09T01:18:42+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/03646a053de86ceb3a62b2e43105f49d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/scannell-properties-sells-tampa-bay-warehouse-for-95m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/11\/1950-102nd-Ave-North-e1635853907458.jpg\",\"width\":2183,\"height\":1639,\"caption\":\"1950 102nd Ave North. 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