Birmingham, AL (January 2023) – Graham & Company, the Birmingham, Alabama-based commercial real estate services, and development company, recently closed on the acquisition of approximately 21 acres located at the intersection of US-301 and Florida Palm Drive, making way for a new, three-building, 262,440 square foot speculative warehouse/distribution development named “East Tampa Commerce Center.” Slated for completion in early 2024, this project is a joint venture between Birmingham-based Graham Capital and the previous landowner, Palm River JLM Center, LTD. This transaction also includes a separate acquisition of an existing, 100% occupied industrial facility located at 9208 Palm River Road.
“We are thrilled to deliver Class A industrial space to what we believe to be the best-remaining infill industrial location in Tampa and continue to grow our presence in the Sunshine State,” said Matthew Graham, Vice President of Graham & Company and Principal of Graham Capital. “Despite challenges facing our economy and increasing construction costs, we have been encouraged by the continued population growth and rent appreciation Tampa has experienced and are proud to be able to contribute to Tampa’s further growth.”
The three facilities will range in size from 85,500 SF to 91,440 SF and feature 32-foot clear heights within a concrete tilt wall structure. The buildings will be available for single-tenant users or could be divided into smaller suites to accommodate a variety of tenant sizes and uses. The project’s location along US-301 provides exceptional access to the I-75, I-4, and the Selmon Expressway and is less than 10 minutes from downtown Tampa.
ARCO Murray Construction Company will serve as the project’s design/build team. Kimley-Horn will oversee the civil engineering needs of the project. Financing is to be provided by Truist. Graham & Co/Graham Capital look forward to collaborating with the community and the city of Tampa to make this project a reality and plans to break ground on the site in early 2023.
About Graham Capital
Graham Capital is a real estate investment company based in Birmingham, Alabama, focused on the acquisition and development of highly functional distribution centers in high-growth Southeastern industrial markets, which continue to experience above-market rent growth, high barriers to entry, and the deepest demand among institutional investors.
About Graham & Company
Founded in 1978, Graham & Company is a full-service commercial real estate firm with offices in Birmingham, Huntsville, and Panama City, Florida. Graham offers investment sales, leasing, property management, and development services.
Graham & Company has been involved in the development and management of industrial properties, office buildings, office/service centers, and office rehabilitation projects throughout the Southeast. Over the last 20 years, Graham & Company has delivered more than 11 million SF of build-to-suit and speculative industrial and office projects, each involving a unique set of challenges and hurdles to overcome.
Graham & Co.’s projects and properties are managed by a staff of seasoned real estate professionals, including many who have earned prestigious designations such as SIOR, CRE, CCIM, LEED, RPA, CPM, and MAI.