I3 Investors Acquires Meridian Concourse Center In Clearwater For $19.05M With Lender Grant Street Funding

The property asset involved in the transaction is the Meridian Concourse Center located at 4400, 4600 & 4800 140th Avenue North in Clearwater. The industrial complex encompasses a total of 150,975 square feet and was sold for $19,050,000, translating to a price per square foot of $126. The property is currently 98% leased and is situated near the St. Pete/Clearwater Airport, making it a strategically positioned asset within the market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $19,050,000
• Buyer: Chip C. Barnes & Matt J. Dickerson - i3 Investors
• Seller: Christopher Knisley - Albany Road Real Estate Partners
• Brokers: Chloe Strada, Mike Davis, Rick Brugge & Rick Colon - Cushman & Wakefield
• Lender: Grant Street Funding
• Mortgage Brokers: Jason Hochman & Ronald Granite - Cushman & Wakefield
• Market: Clearwater
• Projected Growth: i3 Investors plans to increase leasable industrial space

The key individuals involved in this transaction include Chip C. Barnes and Matt J. Dickerson representing the buyer, i3 Investors. The sale involved a professional brokerage team from Cushman & Wakefield, comprising Chloe Strada, Mike Davis, Rick Brugge, and Rick Colon, who facilitated the deal. Jason Hochman and Ronald Granite also from Cushman & Wakefield were engaged as mortgage brokers for the acquisition financing.