The situation
A foreign owner sought an exit from a property facing vacancy and strained tenant relationships. Occupancy was approximately 84% at acquisition.
Industrial / Tampa, FL
Adamo Industrial
A 368,081-square-foot Tampa industrial property demonstrates the role of focused asset management in executing an investment plan.
Investment snapshot
A leasing challenge. An operating answer.
Status: Realized.
- Location
- Tampa, FL
- Acquisition Date
- February 2018
- Investment Type
- Direct Investment
- Asset Size
- 368,081 SF
- Fund
- TriGate Property Partners III, LP
- Status
- Realized
The investment
TriGate acquired the property in February 2018 through TriGate Property Partners III, with a plan to address leasing and tenant relationships.
The execution
The team leased approximately 60,000 square feet of vacant space and secured a five-year renewal from the largest tenant. The property reached full occupancy and was sold approximately one year after acquisition.