Holliday Fenoglio Fowler, L.P. (HFF) announces the acquisition financing for two in-fill business parks comprising 14 buildings and 332,207 square feet in Tampa, Florida.
The HFF team worked on behalf of the borrower, Citimark, Inc., to place the acquisition financing with JP Morgan Asset Management for the benefit of its institutional clients.
The portfolio comprises Pioneer Industrial Park and Sunstate Industrial Park, both located in Tampa’s Westshore/Airport submarket, which is considered the tightest industrial submarket in the Tampa MSA. Both parks are in an infill area just north of Tampa International Airport. Pioneer Industrial Park is situated on 9.603 acres at 5402, 5410, 5412, 5420, 5440 and 5444 Pioneer Park Boulevard. The park’s six, fully occupied buildings total 150,186 square feet and were constructed between 1985 and 1986. Completed in 1980, the 182,021-square-foot Sunstate Industrial Park contains eight buildings that are 89 percent leased. The park is situated on 16.47 acres at 8412-8422, 8424-8434 and 8403-8417 Sunstate Street and 4901-4923 and 4893-4899.
“The acquisition for Citimark represents its entry into the Tampa market and significantly adds to its existing southeast industrial portfolio,” Martin said.
The HFF debt placement team included senior director Ken Martin.
About Citimark, Inc.
Formed in 1982, Citimark is a full service real estate investment and construction company based in Indianapolis, Indiana. Citimark acquires, develops, and manages industrial and office real estate throughout the Midwest and Southeast regions of the U.S. Citimark leverages a vertically integrated operating platform and a long history of succeeding through decades of real estate cycles to pursue both principal investing opportunities and by providing the company’s full scope of services its clients. Learn more athttp://www.citimarkinc.com.
About HFF
HFF and its affiliates operate out of 25 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visithfflp.com or follow HFF on Twitter @HFF.
