Largo industrial buildings sell for $23.5 million

Bromley Industrial Partners, a Tampa real estate investment firm, has bought a two-building, 200,000-square-foot industrial complex in Pinellas County.

The company paid $23.5 million for the property at 14450 and 14480 62nd St. N. in Largo.

BankUnited provided the financing. Details of the loan were not disclosed.

Bromley, a division of Bromley Cos., the developer of Midtown Tampa, says in a statement that the purchase is its largest in the region and a part of the firm’s approach to growing its industrial footprint in the state.

Its strategy focuses on “supply-constrained urban infill industrial assets that support last-mile distribution, local manufacturing, and essential service businesses, particularly tenants with location-dependent operations and long-term occupancy needs.”

According to the statement, it is targeting a portfolio of 20 to 30 industrial properties.

As for the complex, it is north of Ulmerton Road and off U.S. Highway 19. It was fully leased with a mix of tenants that includes manufacturing, telecommunications construction and distribution users.

The previous owner, Blue Steel Development, paid $7.8 million for the property in 2019. Before that, it was owned by Pinch A Penny.