CBRE Selected to Manage Large Industrial Portfolio

One month after acquiring a 1.7 million-square-foot industrial portfolio in St. Petersburg, the new owner assigned the portfolio’s property management duties to CBRE.
WestBay Corporate Center

WestBay Corporate Center

Oakland, Calif.-based Evergreen Industrial Properties paid $103 million for an approximately 1.7 million-square-foot industrial portfolio in St. Petersburg  from Fleeman Family Trust in August, as previously reported by Commercial property Executive.

The transaction marked the largest industrial trade in volume and price in the Pinellas, Tampa and Lakeland markets in the past six quarters, and included a total of 34, predominantly Class A industrial buildings.

One month after closing the deal, the new owner assigned the portfolio’s property management duties to CBRE.

Located in the Gateway and South Pinellas submarkets of the Tampa/St. Petersburg area, the portfolio includes five properties (Gateway Business Center, Gateway Business Park, Metropointe Commerce Park, Westbay Corporate Center and Joe’s Creek Industrial Park), with a total of 34 buildings. Its tenants include FedEx, Lockheed Martin, Jabil, L-3 Communications, MTS Systems, Worldpac, Digital Lightwave and Jagged Peak.

CBRE’s Debra Harrington will oversee the portfolio as General Manager on behalf of Evergreen.

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