Industrial property outside Tampa sold to Texas investor

Transwestern Investment Group, a Dallas real estate investment firm, has bought Mango I-4 Logistics in Seffner. 

The company acquired the property at 6337 Mango Road from Boston’s Realty Associates Fund XII Portfolio. (Hillsborough County records list the address as 6337 State Road 579.)  

Transwestern declined to share a sales price and county public records hadn’t been updated as of Sep. 4. Realty Associates paid $30 million for the property in 2021, records show. 

The 302,940-square-foot-facility, about a mile north of Interstate 4, features 36-foot clear heights, rear-loading, early suppression-fast response sprinklers, LED lighting, 185-foot truck court depth and trailer parking. 

Transwestern Investment says it has “sourced and executed” more than $8 billion in investments in 26 markets. 

Its portfolio includes multifamily, office and industrial properties. 

In a statement announcing the purchase, Transwestern says Tampa’s industrial market leads the state in year-over-year occupancy growth despite its construction pipeline having “diminished considerably.” 

And it says asking rents have increased 86% over the past five years.