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12345-12505 Starkey Rd, Largo, FL 7201-7281 Bryan Dairy Rd, Largo, FL
Starkey Center & Bryan Dairy Portfolio
Asset ClassIndustrial
Square Feet204,818
CALL FOR OFFERS 7/11/2024 | 204,818 SF Portfolio with 90.7% Occupancy | Located in the Most Densely Populated County in Florida
overview of deal

Overview

Colliers, as exclusive advisor, is pleased to introduce the Starkey Center and Bryan Dairy Portfolio located in the heart of Pinellas County, Florida. These renowned business parks provide for a multitude of suite sizes, various loading configurations, above-market parking ratio, proximity to the St. Pete/Clearwater International Airport, and nearby amenities that enhance employee recruitment and retention.

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Investment Highlights

# Buildings
4
# Tenants
31
Occupancy
90.7%
Net Operating Income
$1.97 Million

Offered Free and Clear: The Portfolio would be offered free and clear of existing financing, providing future ownership great flexibility in leveraging returns using today’s historically low floating or fixed rate debt instruments.

Isolated Ecosystem: Pinellas County functions as a ecosystem within the Greater Tampa Bay MSA, enabling a predicable forecast of demand profiles and economics.

High Quality Tenancy: The Rent Roll provides an investor with a diverse set of Tenant industries, coupled with staggered lease roll averaging 11.9% roll over the next three years.

High Barriers to Entry: Located in the most densely populated county (Pinellas) within the state of Florida, the Portfolio benefits from having a competitive set with limited alternative like-kind assets creating long term, predictable growth in rents.

Varied Functionality: The Portfolio’s functionality is highlighted by providing Tenants with various loading options (dock and grade), varied suite compositions (low and high office compositions), and major road thoroughfare visibility.

Coveted Small Bay Product: Arguably the most desirable asset class across the CRE spectrum, the Portfolio provides a buyer with suite sizes ranging from 837 SF up to 15,000 SF.

Portfolio Summary

Starkey Center
Bryan Dairy
Address
12345-12505 Starkey Rd, Largo, FL 33773
7201-7281 Bryan Dairy Rd, Largo, FL 33777
County
Pinellas
Pinellas
Tax District
Seminole Fire
Pinellas Park
Zoning
Employment 2 (E2)
Light Industrial (M-1)
Total Acres
8.81
7.07
Total Size (SF)
102,652
102,166
Number of Buildings
2
2
Occupancy
93.9%
87.4%
Year Built
1980-1981
1988
Loading
Grade-Level
Grade-Level
Clear Height
12’-16’
12’-17’
Parking Ratio
4.0/1,000
2.0/1,000
Average Historical Tenancy
5.2 years
7.4 years
Number of Tenants
18
13
Average Size Tenant (SF)
4,960
7,416
WALT
3.61
2.89
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12345-12505 Starkey RdLargo, FL 33773
St. Pete-Clearwater International Airport
US Hwy 19
Interstate 275
Tampa International Airport

Contact Us

Ryan VaughtExecutive Vice President(256) 656-7215ryan.vaught@colliers.com
Robyn Hurrell, SIORExecutive Vice President(813) 226-7540robyn.hurrell@colliers.com
Nathan LynchExecutive Vice President(813) 559-7009nathan.lynch@colliers.com
Donald JenneweinExecutive Vice President(813) 205-3580donald.jennewein@colliers.com
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Listing provided by Revere CRE