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Tampa Bay-Lakeland
Business Observer Wednesday, Mar. 30, 2022 8 months ago

Construction of 622,000-square-foot St. Pete industrial park to begin this summer

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Leasing opens for new 75-acre Gateway Logistics Center set to open early 2023.
by: Louis Llovio Commercial Real Estate Editor

ST. PETERSBURG — Leasing has begun for a 75-acre industrial park set to being construction this summer in St. Petersburg.

JLL, the real estate management company that will handle leasing for the developer, Greystar, says there is space available for industrial tenants looking for between 20,000 square feet and 150,000 square feet. The company did not release the lease rates.

The Gateway Logistics Center is to be built at Interstate 75 and Gandy Boulevard, about four miles from the Gandy Bridge, which connects Tampa to St. Petersburg. When complete, it will total 622,270 square feet.

The first phase of the project is three buildings totaling 290,000 square feet. The space is expected to be available early next year.

When complete there will be six 65,000-square-foot to 150,000-square-foot buildings with 32-foot clear heights and 54-foot column spacing.  

John Dunphy, JLL’s executive managing director, says in a statement that given the proximity to the Gandy and the Howard Frankland bridges as well as two international airports and the Port of Tampa Bay, the property “is the best remaining undeveloped site of its size in Pinellas County.”

According to research from JLL, the Tampa Bay industrial market remains one of the strongest in Florida with a vacancy rate of less than 4% for the past three quarters even with 3.1 million square feet of new space finished in 2021.

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