Commercial Partners Realty is thrilled to announce the successful sale of an industrial property in Largo. The property, located at 13701 66th st N, closed at a remarkable price of $7,460,370 (or $135/SF).
Marko Radosavljevic represented the seller, Store Capital, and assisted the unrepresented buyer in reaching a mutually acceptable agreement for both parties. Marko is our industrial broker specializing in providing creative, effective industrial solutions in the Mid/North Pinellas and West Hillsborough sub-markets; currently he is working on four other listings in Largo ranging from 3,750 SF – 35,080 SF.
About the Property
This unique industrial deal in Pinellas County involved two buildings totaling 55,262 square feet. These buildings were previously used for the warehousing/distribution and R&D of pharmaceutical products. We secured the Seller, Store Capital, a purchase price close to 10% above the 2023 mid-Pinellas industrial market average for properties of this size.
Additionally, the property boasts several attractive features between the two buildings. Two separate bays for shipping and receiving offer a total of four covered docks for efficient loading/distribution, a fully air-conditioned warehouse with a light office component, small quality control sampling clean room, 1,750 SF Class II DEA Vault for storage of controlled substances and high reaching 25-30’ ceilings offer endless opportunities. In 2020, the warehouse underwent a roof restoration and is equipped with a 1,600 amp 208v 3 Phase Electrical Service.
The second building, a 15,480 SF R&D facility at the back of the lot, completes this property. Altogether, this facility is fully furnished with chemistry labs, compression chambers, autoclaves, and an extra 275 SF DEA Vault. This property offered a prime opportunity for specialized manufacturers to reduce costs in renovating or building similar infrastructure.
Overall, this sale underscores Commercial Partners Realty’s commitment to delivering exceptional value to our clients. We continue to leverage our market knowledge and industry relationships to achieve outstanding results in the industrial real estate sector.
Do you have a property or need that you would like to discuss? Give us a call at 727-822-4715. For more information, please visit CPRteam.com and follow us on Facebook and Instagram.
