Main Manufacturing 500 S Falkenburg Rd

West Second Street Associates, LLC is pleased to present an incredible opportunity to acquire a 21.75 acre parcel which currently includes a 269,000 Sq. Ft. Industrial Warehouse complex located in Tampa, Florida.

The site is in an excellent location within a ¼ mile of I-75 and E. Adamo Drive (SR 60), which is a main commercial corridor in the submarket.

The investment offers an investor or user a tremendous opportunity to revitalize and reposition an existing Class “C” warehouse property located in a Class “A” location or to demolish the existing buildings and build new warehouse, multifamily or other uses.

The current owners have invested significantly into obtaining site plan approval for the construction of 312,000 Sq. Ft. of new build warehouse buildings, consisting of 2 @ 156,000 Sq. Ft. each.

A new owner could capitalize on the opportunity by developing the new warehouse buildings now or by holding the property and generating income until the owner choses to develop the property into warehouse or some other use.

The property is in the rapidly growing Tampa MSA, which is the largest MSA in the state of Florida and 17th in the U.S. with over 3.3 million residents. The Tampa MSA continues to experience extremely strong market fundamentals.

The Tampa MSA exhibits very strong job growth partly attributed to several major industrial projects. The Bureau of Labor Statistics reports the Tampa unemployment rate to be 3.3% compared to 3.3% in Florida, and a National average of 3.9%, as of April, 2024.

Strong Tampa Bay industrial market fundamentals at Q1 2024 with rental rates increasing by 22% in the trailing 12-month period, reaching double digits for the first time in Tampa’s History, as reported by CBRE.