TCC and STAG Industrial Break Ground on 300K-SF of Logistics Facilities in Tampa
October 16, 2023
Trammell Crow Company, a global commercial real estate developer, and takeout partner STAG Industrial, a real estate investment trust, have broken ground on a 300,000-square-foot industrial development, located at 100-200 Powell Road in Gibsonton, Florida. The two-building project sits on two separate 18 and 12-acre sites. The facilities are slated to be delivered in the third quarter of 2024.
100 and 200 Powell will be single-story, market-leading warehouses offering 160,000 square feet and 140,000 square feet, respectively. Features include 32-foot clear height, office space that will be delivered move-in ready, and a truck court with ample trailer parking. The facilities will be LEED Certified.
“We are pleased to officially begin construction on our first project in Florida with STAG Industrial, a trusted industrial investor and partner, working with our team as we further establish TCC’s business in the Florida market,” said Brendon Dedekind, Senior Vice President with TCC. “The Tampa industrial market has seen a tremendous amount of population growth resulting in additional development and increased rental rates in recent quarters, which is a direct result of the low vacancy and high demand. There has been increasing interest from small-to-mid-sized tenants looking to grow their industrial footprint in this market, making our Powell project ideally suited to meet the needs of a variety of users in this sector.”
Project partners include C4 Architecture as the architect of record, Welbro Building Corporation as the general contractor, Atwell as the civil engineers, and DMS as the LEED consultant. CBRE’s Kris Courier and Gary Bauler and JLL’s Julia Silva were involved in securing the opportunities STAG Industrial has engaged the Tampa office of CBRE to market the properties for lease.
Located 15 miles south of downtown Tampa, the Powell development sites are easily accessible via Route 41 and Interstate 75, providing access to a growing population along Florida’s Gulf Coast. The site is within 24 miles of the Tampa International Airport.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.