In a significant real estate transaction, Redfearn Capital, a private equity firm based in Delray Beach, Florida, has acquired an industrial site in Tampa for $5.8 million. The property is strategically located at 10301 Fisher Ave. on the eastern side of Tampa, adjacent to Interstate 75.
Redfearn Capital’s latest acquisition reflects the growing interest in Tampa’s industrial real estate market. The site purchased covers a four-acre parcel, featuring a 35,000 square-foot building with a clear height of 27 feet. This facility offers two acres dedicated to outdoor storage, currently leased to Wesco International.
Historically, the site has seen significant appreciation under its previous ownership by a family trust, which acquired it for $199,700 in 1997. The recent transaction underscores the sharp increase in property values within the region over the last few decades.
Redfearn Capital, established in 2014, boasts a diverse portfolio totaling 4.77 million square feet across three states, with assets under management reaching $750 million. The firm operates over 250 active tenancies, indicating robust occupancy and asset management strategies.
Meanwhile, in downtown Naples, developers Fred Pezeshkan and Jerry Starkey have secured $113.6 million in financing for a new 15-story tower named Aura at Metropolitan. This development will include luxury residential units in a prime location near Fifth Avenue.
Further illustrating the dynamic nature of Florida’s real estate scene, a Lowe’s Home Improvement store in Pasco County was sold for $14.3 million. The 137,554 square-foot property, part of the Trinity Lakes development, was previously owned by Dunphy Development, marking another notable transaction in the area.
These transactions highlight the active and diverse nature of Florida’s real estate market, driven by strategic investments and significant property value increases. As both residential and commercial developments continue to expand, the state remains an attractive destination for investors looking to capitalize on its economic growth.
Source: BusinessObserverFL
