La Quinta Shallow Bay Warehouse
1271 & 1282 La Quinta Drive, Orlando, FL 32809
6,187 sm
Jones Lang LaSalle, Inc. (“JLL”) has been exclusively retained to market for sale The Tampa Infill Logistics Portfolio (the “Portfolio" or “Properties”) – two last-mile, light industrial parks located within the highly desirable East Tampa submarket.
The 492,957 square foot portfolio is currently 91% occupied and totals nine buildings within two synergistic parks, Adamo Distribution Center and Commerce Park Distribution Center. These highly desirable parks offer a variety of bay sizes and buildouts catering to the deepest tenant pool within the market. Spaces range from 2K to 64K SF with low office buildouts, 20'-25' clear heights, ample dock-high/van-high loading mix (80%), and rail access capabilities at Commerce Park. The Portfolio’s rent roll offers 2.2 years of remaining lease term with in-place rents that yield a 55% untrended mark-to-market opportunity, providing for 86% NOI growth over the first five years of the projection.
The Portfolio also benefits from a strategic location in one of Florida’s strongest major markets, Tampa. Fronting the Selmon Expressway (SR-618) and located less than 10 minutes from Tampa’s central business district, Tampa International Airport, Port Tampa Bay, I-75, I-4, and I-275, the Tampa Infill Logistics Portfolio offers unparalleled last-mile, regional, and statewide logistics capabilities with the ability to reach over 6.5M people within a 90-minute drive.
This offering provides investors with the rare opportunity to acquire a critical mass of highly functional light industrial assets at a discount to replacement cost, with low WALT remaining, massive mark-to-market potential, and 86% projected NOI growth over the next five years from a diverse, distribution-oriented base of local, regional, and national tenants within one of the premier southeast US markets.
Rare Opportunity Of Scale In A Supply Constrained FL Market With Last-Mile, Regional, And Statewide Logistics Capabilities
Immense Near-Term Upside Potential With Immediately Actionable Business Plan
Attractive Value Proposition Poised For Long-Term Success
Reliable Cash Flow With Proven Track Record