$55.6M purchase expands New York investment firm’s Florida footprint

Clarion Partners, which already owns 5.8 million square feet of industrial space in Central Florida, bought two Tampa warehouses minutes from Tampa International Airport.

By Louis Llovio
| 5:30 p.m. January 2, 2024
| 2 Free Articles Remaining!

Tampa Airport Logistics sold to a New York investor for $55.6 million.

Tampa Bay-Lakeland

A two-building Tampa industrial property has sold for $55.6 million.

According to Hillsborough County records, the property at 5450 Johns Road was bought by an LLC belonging to the New York real estate investment firm Clarion Partners.

The property, Tampa Airport Logistics, sits on 19.2 acres and has a total of 297,254 square feet, according to a sales flyer. It is 100% leased with an average tenant lease term of six years. The warehouses were built in 2022 and are on Johns Road and Sligh Avenue, about six miles from Tampa International Airport. The center was built in 2022.

Clarion is a national investment firm whose portfolio is mostly (59%) industrial, according to its website. That includes $45 billion in assets under management and 243 million square feet.

In Central Florida, it owns 53 properties and has a total investment value of $1.7 billion with 5.8 million square feet of industrial space, 1,324 apartment units, 294 hotel rooms and 1.8 million square feet of retail.

In total, across all sectors, it owns 320 million square feet in seven countries.

The previous owner, according to a copy of the deed and county property records, was Kansas City, Missouri-based NorthPoint Development. It paid $3 million for then-vacant property in 2021.

author

Louis Llovio

Louis Llovio is the commercial real estate editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.