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1402 Tech Blvd., Tampa, FL 6305 Chancellor Dr., Orlando, FL
Central Florida Portfolio
Asset ClassIndustrial
Square Feet67,420
Call For Offers: 10/01/24Access Data Room
67,420 Total SF | Two Buildings | Strategically Located in Central Florida
overview of deal

Overview

Colliers, as exclusive advisor, is pleased to introduce the Central Florida Portfolio located in Tampa and Orlando. The portfolio is comprised of two standalone buildings totaling 67,420 square feet and features an attractive WALT of just over three years.

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Investment Highlights

Square Feet
67,420
# Buildings
2
Occupancy
100%
Weighted Average Lease Term
3.2 Years

Low Portfolio WALT

Comprised of two Tenants, this Central Florida Portfolio features an extremely attractive 3.2 years of WALT.

 

Significant Mark-to-Market Opportunity

The Portfolio has an in-place mark-to-market opportunity averaging 34%, with Tech Blvd. and Chancellor Dr. individually demonstrating a 21% and 47% MTM, respectively.

 

Standalone Building Lease Opportunities

The Portfolio is comprised of two highly-functional and extremely infill standalone facilities. A rare offering for their size, these buildings give the occupier base flexibility in a smaller footprint while also granting the ability for a Tenant to fully control and secure the perimeter; both attribute to a Landlord's ability to further drive rental rates.

 

Limited CapEx Needed

Both assets have undergone an extensive capital improvement plan, minimizing an incoming investor’s immediate capital outlay.

 

Equally Hyper Infill Locations

Both assets are located in stabilized and high performing (from a rent growth standpoint) submarkets (East Tampa and SW Orange County), with a plethora of surrounding institutional ownership - Link Industrial, Prologis, EastGroup Properties, UBS, to name a few.

Portfolio Summary

1402 Tech Blvd., Tampa, FL 33619
6305 Chancellor Dr., Orlando, FL 32809
County
Hillsborough
Orange
Submarket
East Tampa
SW Orange County
Building Size
32,320 SF
35,100 SF
Parcel Size
±2.57 Acres
±3.25 Acres
Occupancy
100%
100%
Tenancy
Single - Tireco Distributors
Single - Sandy Alexander Inc.
Historical Tenancy
15.6 Years
24.6 Years
Lease Expiration
7/31/2028
10/31/2027
Lease Term Remaining
3.6 Years
2.8 Years
In Place Rent ($/SF)
$9.75
$9.38
Market Rent Today ($/SF)
$11.75
$13.75
Mark-to-Market Opportunity
21%
47%
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1402 Tech Blvd.Tampa, FL 33619
1402 Tech Blvd: US Highway 301, Interstate 75, and Interstate 4
6305 Chancellor Dr: John Young Parkway, Interstate 4, Florida Turnpike, and SR-528/Beachline Expressway

Contacts

Ryan VaughtExecutive Vice President+1 256 656 7215ryan.vaught@colliers.com
Jimmy UllrichExecutive Vice President+1 212 292 3134jimmy.ullrich@colliers.com
Michael MacchiaSenior Associate+1 631 626 5377michael.macchia@colliers.com
Robyn Hurrell, SIORExecutive Vice President+1 813 226 7540robyn.hurrell@colliers.com
Lee Morris, SIORExecutive Vice President+1 407 782 8212lee.morris@colliers.com
Nathan LynchExecutive Vice President+1 813 559 7009nathan.lynch@colliers.com
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Listing provided by Revere CRE