A joint venture between Scannell Properties and Hoover Development Partners has plans for the redevelopment of a key industrial site located north of the air cargo entrance at the Tampa International Airport.
The subject property is positioned within one mile of the Air Cargo entrance for Tampa International Airport (TIA) in the Airport Industrial submarket. The Airport Industrial submarket is one of the tightest industrial submarkets in the Tampa area boasting a 1 percent vacancy rate. The newly branded TIA Logistics Center is anticipated to include up to 245,000 square feet of warehouse/distribution space together with commercial outparcels and will be the largest industrial spec project delivered to this submarket in more than 15 years. The developers are currently in the permitting and entitlement approval phase and expect to break ground in 2021.
The JV entity, SP HDP #467 LLC closed on the acquisition of the 20-acre site on November 12, 2020 for $4.8 million.
