In May of 2017, KI Florida Fund acquired Hanna Warehouse II, a multi-tenant, 70K sq. ft. office building in Tampa’s Westshore/Airport industrial submarket. This market experienced a downturn following the recession but has been seeing increasing demand and limited supply, with current market vacancy under 10%.
A steady shift in the composition of the consumer economy (from brick and mortar retail to online purchasing) is driving demand for last mile, infill industrial and distribution locations in densely populated areas. This property is well located to take advantage of this trend in the coming years.
The warehouse is constructed of tilt-wall concrete with 20-22′ clear heights and multiple dock doors, and is conveniently located on W. Hanna Avenue between Anderson and Hoover. The property is advantageously located for industrial users, immediately north of Tampa International Airport, and just 1.5 miles from the Veterans Expressway with direct access to I-275 and Hillsborough, Pinellas and Pasco counties.
At the time of acquisition, the property is 100% occupied, and is home to operations of three state and local businesses providing a range of products, from granite and stone to office furnishings and tool belts. Hanna Warehouse II is the second acquisition of KI Florida Fund I, a commercial real estate fund focused on value-added investments in Florida. For leasing information, please contact Ryan Hutkowski of Kennedy Investments at (813) 554-1212.