A joint venture between Birtcher Anderson & Davis and Belay Investment Group has acquired the Sunstate Industrial Portfolio, an eight-property industrial portfolio in Tampa. The sales price was $17.1 million.
The portfolio totals 180,323 square feet and is currently home to 32 tenants. The transaction represents the third investment for the venture since October 2020 totaling $110 million. The undisclosed seller was represented by Colliers International.
“Given the dynamics of this submarket, with limited availability of existing space and no quality development sites available for new construction, Sunstate was a great opportunity for us to add to make another investment our portfolio in the Tampa market,” said Bob Anderson, Co-Chairman at Birtcher Anderson & Davis.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.