425 Hobbs St. in Tampa, Florida — Courtesy: The STRO Cos./KRE Group
By Joshua Burd
The STRO Cos. and KRE Group have signed a new sale-leaseback deal for two buildings in Florida, adding more than 43,000 square feet to their fast-growing portfolio in the state.
According to the firms, the transaction includes a 20,380-square-foot industrial building at 425 Hobbs St. in Tampa, Florida, and a 22,887-square-foot facility at 558 Stuart Lane in Jacksonville. The assets also have excess land for outdoor storage, the partnership said, adding to their potential for last mile-distribution in two important regions.
“These hyper-infill assets complement our existing industrial portfolio and perfectly align with our investment thesis of acquiring functional, well-located assets in high-growth markets in the Southeast,” said Kevin Bramhall, STRO’s director of Southeast acquisitions. “The assets provide frictionless connectivity to major travel arteries and offer additional acreage for outdoor storage, which is highly coveted by occupiers in today’s market.”
STRO Senior Managing Director Albert Fitch and Bramhall led the internal team that oversaw the deal with PVF Industrial, while Jessica Mizrahi and Jackson O’Neill of Lee & Associates Tampa Bay brokered the transaction.
“Our expansion into Florida’s industrial market reflects KRE Group’s strategic approach to identifying high-quality assets in high-growth regions,” said Jonathan Kushner, the firm’s president. “These properties align with our vision of long-term value creation, and we’re excited to partner with STRO to strengthen our presence in the Southeast.”
