i3 Investor News
i3 Investors Investors Expands into the Tampa Market
INDIANAPOLIS, Ind. – 11/20/2024 i3 Investors recently acquired Meridian Concourse Center, a 150,975 SF three-building, multi-tenant industrial park in Tampa’s Pinellas Industrial submarket. Previously held by Albany Road, Meridian Concourse is i3 Investors’ first acquisition in the Tampa market.
"We are excited to enter the Tampa market as it continues to experience significant growth and robust leasing activity," stated Matt Dickerson, Principal of i3 Investors. "Tampa’s business-friendly climate aligns well with our long-term strategy to expand in targeted markets across the Southeast."
Constructed in 1988, the buildings at Meridian Concourse Center are 98% leased to 15 tenants and are strategically located adjacent to the St Pete-Clearwater International Airport.
Chip Barnes, Principal of i3 Investors, commented, “This property provides a jumping-off point for geographic expansion into the Central Florida industrial markets. Meridian Concourse provides long-term stabilized cash flow and future upside through limited repositioning of the project.”
Rick Brugge with the Cushman & Wakefield’s Capital Markets Group represented the seller in the transaction. Jason Hochman with the Cushman & Wakefield South Florida Capital Markets' Team secured the debt on behalf of i3 Investors.
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Melissa Cotterill
Executive Vice President
+1 317 319 8790
