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4900-4914 Creekside Dr, Clearwater, FL 11701 S Belcher Rd, Largo, FL
Turtle Creek & Cross Bayou Portfolio
Asset ClassIndustrial
Square Feet179,305
CALL FOR OFFERS 7/11/2024 | 179,305 SF Portfolio with 90.6% Occupancy | Located in the Most Densely Populated County in Florida
overview of deal

Overview

Colliers, as exclusive advisor, is pleased to introduce the Turtle Creek and Cross Bayou Portfolio located in the heart of Pinellas County, Florida. These renowned business parks provide for a multitude of suite sizes, various loading configurations (grade-level and dock-high), 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
9
# Tenants
39
Occupancy
90.6%
Net Operating Income
$1.79 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 12.4% 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 future investor with suite sizes ranging from 1,075 SF up to 12,417 SF.

Portfolio Summary

Turtle Creek
Cross Bayou
Address
4900-4914 Creekside Dr, Clearwater, FL 33760
11701 S Belcher Rd, Largo, FL 33773
County
Pinellas
Pinellas
Tax District
Pinellas Park
Pinellas Park
Zoning
Light Industrial (M-1)
Light Industrial (M-1)
Total Acres
11.05
6.45
Total Size (SF)
121,217
58,324
Number of Buildings
8
1
Occupancy
96.7%
77.7%
Year Built
1984-1985
1985
Loading
Grade-Level & Dock-High
Grade-Level
Clear Height
10’ - 15.75’
12’ - 14’
Parking Ratio
3.0/1,000
3.8/1,000
Average Historical Tenancy
5.7 years
2.2 years
Number of Tenants
26
13
Average Size Tenant (SF)
4,506
3,487
WALT
2.75
2.70
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4900-4914 Creekside DrClearwater, FL 33760
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