Belay Investment Group LLC Acquires Sunstate Business Park In Tampa For $17.1M

The Sunstate Business Park in Tampa, FL, has been sold for $17,100,000.00. The industrial property comprises eight buildings totaling 180,323 square feet of flex/industrial space. The address of the property is 4893 W Waters Ave, Tampa, FL, 33634, situated in the Tampa market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $17,100,000.00
• Seller: Citimark
• Buyer: Belay Investment Group LLC
• Seller's Representatives: Nathan Lynch, Robyn Hurrell, Ryan Vaught of Colliers International
• Property Address: 4893 W Waters Ave, Tampa, FL, 33634
• Market: Tampa
• Square Footage: 180,323

The buyer of the Sunstate Business Park, a portfolio consisting of 26 tenants, was Belay Investment Group LLC, who was self-represented in the transaction. The seller, Citimark, was represented by Nathan Lynch, Robyn Hurrell, and Ryan Vaught of Colliers International. The property is strategically located 2 miles from Tampa International Airport, offering stock-height and grade-level loading for various users. Capital improvements were recently made to refresh signage, landscaping, and exterior paint of the buildings. The Sunstate Business Park is in high demand due to limited availability of existing space in the submarket and no quality development sites for new construction.