#United States #Tampa #Industrial Storage #Green Courte

Green Courte Partners Acquires New Industrial Outdoor Storage Facility in Tampa

In a significant development in the real estate investment sector, Green Courte Partners, LLC, a private equity firm known for its focus on niche real estate assets, has announced the acquisition of a prominent industrial outdoor storage (IOS) facility located at 1650 Hemlock Street in Tampa, Florida. This acquisition marks a pivotal point in Green Courte’s strategic expansion, aligning with its commitment to invest in dynamic real estate sectors.

The newly acquired facility spans an impressive 32 acres in the highly sought-after East Tampa industrial submarket, conveniently adjacent to Port Tampa Bay. This prime location enhances the property’s appeal, reflecting an investment strategy that prioritizes accessibility and operational efficiency. The acquisition was made through Green Courte Real Estate Partners VI, LLC, further solidifying the firm’s status in the competitive market of real estate investment.

Green Courte’s Managing Director, Jordan Kerger, expressed enthusiasm about the acquisition, stating, "With stable, long-term income in place combined with additional near-term redevelopment potential, 1650 Hemlock Street offers the flexibility to meet the needs of a wide variety of IOS users." This sentiment underscores the firm's strategy of not only generating immediate revenue but also cultivating opportunities for future growth and development.

Through this acquisition, a portion of the site will still be utilized by the previous owner, Hendry Marine Industries, Inc., who will lease back a part of the facility, including 1,600 linear feet of marine bulkhead. This strategic arrangement allows for continuity and operational efficiencies for both parties, ensuring that existing operations remain unaffected while also paving the way for Green Courte to redevelop the remaining 16 acres of the site into high-demand IOS space.

The property’s unique characteristics, including direct waterfront access, heavy-industrial zoning, and nearness to critical port and rail infrastructure, serve as key advantages that support Green Courte's long-standing IOS strategy. This move not only enhances the firm’s portfolio but also highlights its commitment to increasing its footprint in the industrial real estate market.

Mike Hendry, representing Hendry Marine Industries, acknowledged the complexity of the transaction and praised Green Courte for their professionalism throughout the process. He expressed excitement about maintaining a long-term relationship with the firm, emphasizing the importance of the 1650 Hemlock Street facility in their operations.

Green Courte Partners continues its pursuit of excellence in niche real estate investments, focusing on active-adult living, land-lease communities, industrial outdoor storage, and near-airport parking. The firm strictly adheres to a disciplined approach in transaction execution, operations, and asset management, which ensures that their investments yield attractive risk-adjusted returns over extended holding periods.

For those interested in the leasing opportunities at this newly acquired IOS facility, inquiries can be directed to Brad Hutton at Franklin Street. This facility promises to be a significant addition to Tampa’s evolving industrial landscape, catering to the increasing demand for efficient and accessible outdoor storage solutions.

In summary, Green Courte Partners' acquisition of the 1650 Hemlock Street property not only represents a strategic expansion of their real estate portfolio but also reinforces their dedication to fostering growth and innovation within niche markets. With a clear vision of the future and a commitment to their investment principles, Green Courte is well-positioned to continue making impactful contributions to the real estate sector.