April 2021, A venture between San Juan Capistrano, CA-based Birtcher Anderson & Davis, LLC and Belay Investment Group has recently closed on a $17.1 million purchase of the Sunstate Industrial Portfolio located in Tampa, FL comprised of eight (8) buildings totaling 180,323 sf, and home to 32 tenants. The seller was represented by Colliers. This represents the third investment for the venture since October 2020 totaling $110 million in consideration.
“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”, notes Bob Anderson, Co-Chairman of Birtcher Anderson & Davis.
“We’re extremely excited to have closed on our third multi-tenant industrial transaction with Birtcher Anderson & Davis. The Sunstate Industrial Portfolio is extremely well located within a very competitive submarket and is a great addition to our other recent acquisitions,” said Jake Loughridge, Senior Vice President of Investment with Belay Investment Group. “Finding compelling value-add, industrial opportunities are never easy and to have invested $45M of equity over a four-month period during these past twelve months is something we are very proud of. And very appreciative of the entire Birtcher Anderson & Davis team for all of their hard work.”