An industrial facility located at 2811 59th Avenue Drive East in the Tampa market has been sold for $8,400,000. This property spans approximately 43,500 square feet and is valued at $193 per square foot. The asset is under an absolute NNN lease and includes an additional 5 acres of LM-zoned land, which is currently utilized by the tenant for truck parking. Recent developments include the tenant’s acquisition by a major private equity group, enhancing the long-term stability and investment appeal of the asset.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $8,400,000
• Buyer: Richard Grondin
• Seller: Bernard Vroom Jr
• Brokers: Dylan Batlle & Nick Watson - Matthews
• Square Footage: 43,500
• Price per Square Foot: $193

Dylan Batlle and Nick Watson of Matthews represented the seller in this transaction. The deal was executed as a pre-market transaction, highlighting the asset's investment appeal and the strategic advantage provided by the tenant's recent acquisition.