La Quinta Shallow Bay Warehouse
1271 & 1282 La Quinta Drive, Orlando, FL 32809
6,187 m²
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