Confidential tenant leases 12,500 square feet of space in Tampa industrial park

TAMPA, Fla. - Jan. 12, 2021 - PRLog -- A confidential tenant has leased a 12,500-square-foot flex space in Tri County Business Park at 14524-14530 McCormick Drive in Tampa.

Robyn Hurrell, MCR, Ryan Vaught and Oliver de la Croix-Vaubois of Colliers International represented the landlord, Tampa 492, a joint venture between Biscayne Atlantic and The Genet Property Group, in the lease transaction.

This lease brings the number of new leases the Colliers team has facilitated on behalf of Tri County Business Park in 2020 to 21 transactions, totaling 83,625 square feet. The team has also facilitated the closing of lease renewals totaling 18,050 square feet in the 492,235-square-foot industrial park this year.

"2020 has been an excellent year for Tri County Business Park," said Hurrell, Managing Director at Colliers International. "The Covid-19 pandemic has caused many users to become increasingly aware of their real estate footprint, and it appears that there has been a shift in demand away from multi-story office buildings to flex buildings, as well as a continued shift into the West and Central Florida market due to the quality of life and lack of a state income tax."

The Vaught-Hurrell-Vaubois team took over leasing for Tri County Business Park in late 2017 after Bircher Anderson acquired the property and was retained as the leasing team upon Tampa 492's acquisition of the park in late 2019.

"With units ranging from 1,000 square feet to 22,500 square feet, Tri County Business Park has historically been able to accommodate a wide variety of users with the ability to grow within the portfolio," said de la Croix-Vaubois, Associate at Colliers International. "Tampa 492 has been a very responsive and proactive landlord, and we're proud to close out the 2020 calendar year surpassing 88% occupancy at the park, which is a 12% increase for the year."

Tri County Business Park currently has 73 tenants occupying 434,422 square feet. The lease for this confidential tenant is the largest lease to be executed in the industrial park in 2020.

About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.