In a recent transaction, an affiliate of Blackstone has successfully sold a three-building industrial park in Polk County for $104 million. The buyer, LBA Realty, acquired the Four Corners Business Park located in Davenport. This nine-figure deal is considered rare in the Tampa Bay region and particularly scarce within the industrial market since 2022 due to slowed warehouse investment sales. However, there has been an increase in investor interest for industrial assets towards late 2023 resulting in a rebound of sales.
The sale was brokered by CBRE National Partners team consisting of Jose Lobon, Trey Barry, Frank Fallon and Royce Rose. Spanning just under 800 square feet across three buildings,the Four Corners Business Park boasts prime location between two major roads – Interstate 4 and U.S Highway 27.Tenants currently occupying this space include Cargill and ReadyRefresh,a beverage delivery service provider.
This significant transaction serves as evidence that the commercial real estate market continues to thrive despite challenges faced during these unprecedented times.
