{"id":1004581651,"date":"2022-05-24T02:55:01","date_gmt":"2022-05-24T10:55:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004581651"},"modified":"2022-12-08T19:03:16","modified_gmt":"2022-12-09T03:03:16","slug":"hines-breaks-ground-on-1st-tampa-industrial-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/","title":{"rendered":"Hines Breaks Ground on 1st Tampa Industrial Project"},"content":{"rendered":"
\"Hines<\/a>

Tampa Commerce Center. Image courtesy of Hines<\/p><\/div>\n

Hines<\/strong> has begun construction of the four-building Tampa Commerce Center, a Class A industrial park in Tampa, Fla. The project is Hines\u2019 first industrial development in the area and could exceed 600,000 square feet.<\/p>\n

The location is near Tampa Executive Airport, on Harney Road just south of Temple Terrace Boulevard, providing easy access to and from I-75 and I-4.<\/p>\n

Phase one will consist of two buildings to be constructed concurrently. Building 100 is an approximately 150,000-square-foot rear-load facility with 32-foot clear heights, 44 dock-high doors, two ramps and three-phase 1,600-amp power.<\/p>\n

Building 400 is an approximately 250,000-square-foot cross-dock facility with 36-foot clear heights, 66 dock-high doors, four ramps and three-phase 3,000-amp power.<\/p>\n

Both buildings will feature ESFR sprinkler systems and LED lighting.<\/p>\n

\n

READ ALSO<\/strong>: Rising Costs, Limited Supply Place Pressure on Thriving Industrial Property Market<\/a><\/p>\n

\n

Two further buildings are tentatively configured as 124,000 square feet and 79,500 square feet.<\/p>\n

Hines stated that it intends the development to offer a \u201cdiverse mix of size configurations\u201d to appeal to a range of industrial users in e-commerce, logistics, and the food and beverage sectors.<\/p>\n

In a prepared statement, Hines Managing Director Ryan Wood referred to the location as \u201can untapped market with strong growth potential for the industrial sector.\u201d<\/p>\n

Construction on phase one of Tampa Commerce Center is expected to be completed in the fourth quarter.<\/p>\n

The project was designed by Randal Paulson Architects<\/strong> and is being built by Miller Construction Co<\/strong>. Hines has chosen JLL<\/strong> as the park\u2019s leasing agent.<\/p>\n

Attractive area<\/h2>\n

Metro Tampa\u2019s industrial space market is seeing asking rents reach new records as a result of \u201csustained low vacancy\u201d and \u201cunrelenting tenant demand,\u201d accompanied by limited speculative construction, according to a first-quarter report from JLL.<\/p>\n

The East Side warehouse\/distribution submarket currently has a total availability of 6.8 percent on an inventory of 58.9 million square feet, and 2.5 million square feet under construction, also according to JLL.<\/p>\n

In April 2021, NorthPoint Development<\/strong> made its own initial foray into Tampa, acquiring a 19.2-acre site<\/a> with plans to immediately break ground on Tampa Airport Logistics Center, an approximately 297,250-square-foot project. The two Class A buildings were scheduled to deliver in the fourth quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Phase one will consist of two buildings that will be developed simultaneously.<\/p>\n","protected":false},"author":882,"featured_media":1004581661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,21742],"tags":[32797,32796,39945],"class_list":["post-1004581651","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-latest","tag-hines","tag-jll","tag-miller-construction-company"],"acf":[],"yoast_head":"\nHines Breaks Ground on 1st Tampa Industrial Project - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Hines has begun construction on the four-building Tampa Commerce Center, a Class A industrial park in Tampa, Fla.\" \/>\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\/hines-breaks-ground-on-1st-tampa-industrial-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines Breaks Ground on 1st Tampa Industrial Project\" \/>\n<meta property=\"og:description\" content=\"Hines has begun construction on the four-building Tampa Commerce Center, a Class A industrial park in Tampa, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/\" \/>\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=\"2022-05-24T10:55:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:03:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Tampa-Commerce-Center-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"825\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/hines-breaks-ground-on-1st-tampa-industrial-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/\",\"name\":\"Hines Breaks Ground on 1st Tampa Industrial Project - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Tampa-Commerce-Center-featured.jpg\",\"datePublished\":\"2022-05-24T10:55:01+00:00\",\"dateModified\":\"2022-12-09T03:03:16+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"description\":\"Hines has begun construction on the four-building Tampa Commerce Center, a Class A industrial park in Tampa, Fla.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hines-breaks-ground-on-1st-tampa-industrial-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Tampa-Commerce-Center-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/Tampa-Commerce-Center-featured.jpg\",\"width\":825,\"height\":600,\"caption\":\"Tampa Commerce Center. 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