A significant transaction took place as Redfearn Capital, based in Delray Beach, acquired a lucrative industrial property in Tampa for $5.8 million. This strategic purchase highlights the ongoing interest and investment in the Florida real estate market.
The industrial site, located at 10301 Fisher Ave., lies on Tampa’s east side, strategically positioned near Interstate 75. Redfearn Capital, a well-recognized private equity firm in commercial real estate, facilitated the acquisition from a family trust that originally invested in the property in 1997 for $199,700.
Spanning 35,000 square feet with a clear height of 27 feet, the property includes a total land area of 4 acres, alongside 2 acres dedicated to outdoor storage. This transaction is indicative of the growing value and potential of industrial spaces in the region. The existing tenant, Wesco International, remains a key player in the site’s operations.
Redfearn Capital has carved a niche in the real estate sector since its foundation in 2014, boasting ownership of 4.77 million square feet and managing assets worth $750 million. Its extensive portfolio includes over 250 active tenants across three states, with other notable holdings in Florida cities like Clearwater, Lakeland, Palmetto, and Naples.
Meanwhile, in related developments, a Lowe’s Home Improvement store in Pasco County was purchased by a California trust for $14.3 million, a stark increase from its 2021 purchase price of $6.62 million by Dunphy Development. The Lowe’s location, at 2317 Gunn Highway in the Trinity Lakes center, operates under a corporate-backed 20-year lease, showcasing a robust investment model in retail properties.
The real estate dynamics in Florida continue to evolve with multiple transactions in the commercial sector, including significant projects like the Metropolitan Naples tower and The Ritz-Carlton Residents Sarasota Bay. These illustrate the region’s capacity for growth and the sustained demand for diverse real estate investments.
Redfearn Capital’s recent acquisition is a testament to the active commercial real estate market in Florida, reflecting both the potential for profit and the strategic interests shaping the industry. As the state continues to attract notable investments, the impact of these transactions underscores a thriving marketplace.
Source: Businessobserverfl
