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Tampa flex/industrial portfolio near airport sells for $17.1 million

Sunstate Park Photo

Birtcher Anderson & Davis buys Sunstate Business Park eight-building portfolio

Birtcher Anderson & Davis, in a joint venture with Belay Investment Group, has purchased an eight-building portfolio called the Sunstate Business Park for $17.1 million. The buildings total 180,323 square feet of flex/industrial space and are located at the intersection of W Waters Avenue and Sunstate Street in Tampa, 2 miles from Tampa International Airport.

Ryan Vaught, Robyn Hurrell and Nathan Lynch of Colliers International represented the seller, Citimark. The buyer was self-represented.

“Everyone’s chasing infill industrial real estate right now. And given the high barriers to entry in this submarket – with limited availability of existing space and virtually no quality development sites for new construction – acquiring Sunstate Business Park was a great opportunity for the buyer.”
- Ryan Vaught, Executive Managing Director, Industrial Services for Colliers International

The addresses for the eight buildings in the Sunstate Business Park portfolio are 4893, 4895, 4897, 4899 and 4901 W Waters Ave. and 8403, 8412-8434 Sunstate St. in Tampa.

At the time of the sale, the Sunstate Business Park portfolio was 91.1% leased. Among the 26 tenants are Freedom Scientific Inc., Cooper Speed, Calta’s Fitness Center and American Technologies Group.

The buildings feature stock-height and grade-level loading to accommodate various users and recently underwent capital improvements to refresh signage, landscaping and exterior paint. The portfolio is located less than a mile from the Veterans Expressway/State Road 589 and is visible from Waters Avenue, a highly trafficked thoroughfare in Tampa.

Birtcher Anderson & Davis currently owns and manages approximately 11 million square feet of commercial real estate throughout the country. Since October 2020, Birtcher Anderson & Davis and Belay have acquired three portfolios totaling over $110 million. Having sold off over 1 million square feet in Tampa-based assets over the past two years, the Sunstate Business Park is currently the only property Birtcher Anderson & Davis owns in the Tampa Bay market.


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Ryan Vaught

Executive Managing Director, Industrial Services

Tampa

Ryan Vaught joined Colliers in 2018. His real estate practice focuses on consulting with industrial developers and investors throughout the country.


Prior to joining Colliers, Ryan was a Senior Vice President with JLL where he led the industrial services platform in Tampa, FL. Before relocating to Florida, Ryan was with Brixton Capital, a private equity investment firm located in San Diego, CA. 


Ryan also served in the United States Army as a military intelligence officer.


Ryan is married to his wife (Laura) and has two sons (Owen and Ryder).

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Robyn Hurrell

Executive Managing Director, Industrial Services

Tampa

As a market leading commercial real estate advisor, Robyn is a top-performing, industrial real estate broker and Executive Managing Director for Colliers. Involved in a multitude of different projects across Florida, Robyn commands extensive transaction experience on both the tenant and landlord sides and offers a robust suite of services including leasing, dispositions, acquisitions, land identification, and tenant representation. Robyn holds a high value on genuine, long-term client relationships and her approach is consultative and needs based, minimizing the time her Clients spend on the real estate decision making process. Her prime focus in all aspects of her consultative efforts is to be a true partner in the process as an extension of the Clients’ operation.  

Previously in a financial analyst role on the Cushman & Wakefield office capital markets team, Robyn’s industrial brokerage career launched under the JLL platform and it was there Robyn partnered with her current business partner, Ryan Vaught, to start the Vaught | Hurrell Industrial Team in 2016. Since that partnership formed, the duo was recruited to Colliers in 2018 to bolster the industrial services platform throughout the state of Florida. Now a six-member operation, the Vaught | Hurrell Industrial Team is a diverse and collaborate group that strives to deliver creative strategies relative to local leasing and capital markets. Leading the team in their local leasing efforts, Robyn spearheads the leasing platform which encompasses over 6M square feet of agency leasing partnerships & over 20 active tenant representation Clients.  

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Nathan Lynch

Executive Managing Director

Tampa

Nathan Lynch worked with CBRE for 10 years prior to joining Colliers International. Nathan was a graduate of Linfield College in McMinnville, OR with a Bachelor of Science in Finance and a minor in mathematics.

Prior to joining Colliers International, Nathan specialized in debt and equity finance with CBRE. Nathan has been directly involved in the placement of over $2 billion in commercial real estate debt and has originated over $500 million in commercial debt in Europe and the U.S. Nathan also managed a servicing portfolio of 200 loans totaling over $1.2 billion.

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