A New York real estate investment firm has acquired a portfolio of 13 industrial properties spread between East Tampa and the Westshore area.
Thor Equities Group paid $37.27 million for the portfolio in a deal that closed Aug. 22, according to Hillsborough County property records. The portfolio totals 402,000 square feet with buildings that range from 5,500 to 78,700 square feet, Thor said in a news release.
Ohio-based Redstone Investments was the seller, according to property records. Pat Kelly and Brad Hutton of Franklin Street represented Thor in the transaction.
With locations in East Tampa and Westshore, the buildings are close to densely populated areas — critical for attracting industrial tenants who want to be as close to their consumers as possible. Thor said there are 20 million consumers within a 200-mile radius of the portfolio.
The portfolio is 98% leased to 34 tenants from a variety of industries, including shipping, cabinetry, auto repair and water filtration products, Thor said. Thermotech Enterprises and Superior Pool Products are among the companies that occupy buildings in the portfolio.
“Tampa is a rapidly growing market that has quickly established itself as a leading industrial hub in the Southeast,” Joe Sitt, Thor chairman, said in a statement. “As the migration to Florida surges, this acquisition is fitting with our strategy to invest in well-located assets with accessibility to growing populations. We remain focused on the industrial sector and look forward to uncovering similar opportunities in dynamic locations globally.”
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