RealtyMogul: Skyway Industrial Park

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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