The real estate investment platform RealtyMogul announced the opening of the pledging window for an equity investment in an industrial building in St. Petersburg, Florida.
The Skyway Industrial Park is a 232,206-square-foot Class B industrial facility in the growing St. Petersburg/Tampa Bay submarket. Built in 1989, the industrial facility offers tremendous upside by addressing deferred improvements and improving cash flow through a progressive rent increase. With the sale of the property expected to be completed in May, the new owners will assume an occupancy rate of 98.6%.
Within the submarket, asking rents for industrial space comparable to Skyway begins at $8 per square foot of net rentable space with most spaces leasing for between $9 and $11 per square ...
Full story available on Benzinga.com
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The Skyway Industrial Park is a 232,206-square-foot Class B industrial facility in the growing St. Petersburg/Tampa Bay submarket. Built in 1989, the industrial facility offers tremendous upside by addressing deferred improvements and improving cash flow through a progressive rent increase. With the sale of the property expected to be completed in May, the new owners will assume an occupancy rate of 98.6%.
Within the submarket, asking rents for industrial space comparable to Skyway begins at $8 per square foot of net rentable space with most spaces leasing for between $9 and $11 per square ...
Full story available on Benzinga.com
Continue reading...