TAMPA, Florida —
Franklin Street announced it brokered the sale of the former Borden Dairy Company’s warehouse/cold storage site in South Tampa, on behalf of Everwood Real Estate Partners to Mattany Homes.
“When Borden’s filed for Chapter 11 bankruptcy in 2020, this property came to market and drew interest from a diverse set of buyers, including traditional warehouse investors and cold storage users who service this market, and the eventual buyer,” Brad Hutton, senior director, Franklin Street, said.
The site is located at 5200 S. Manhattan Avenue in the South Tampa submarket of Tampa, Florida and includes a 23,787 square foot warehouse/cold storage building on 2.88 acres. South Tampa is an affluent Tampa submarket known for its mix of old and new developments and amenities, including top-rated schools, waterfront living, high-end homes and diverse community events.
The new ownership group plans to redevelop the existing site into a mid-market residential site in the increasingly live/work/play South Tampa neighborhood. The development of mid-market residential will bring increased housing opportunities in the increasingly vibrant South Tampa neighborhood that is conveniently located to Tampa proper.
Everwood Real Estate Partners is a commercial real estate investment and development company headquartered in Texas and operates across the Sunbelt. Patrick Kelly and Brad Hutton of Franklin Street represented the seller. Everwood originally acquired the property as a value-add IOS opportunity with a clear operating business plan. Following the acquisition, early interest from residential developers prompted a reassessment to the highest-and-best use. Everwood ultimately elected to divert from the original plan and sold the property to Mattamy Homes.
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About Franklin Street
Franklin Street is a fully integrated, national commercial real estate services firm headquartered in Tampa, Florida. We combine thoughtful planning with decisive action to deliver winning results to clients nationwide. Franklin Street’s seven lines of business include Capital Advisory, Insurance, Investment Sales, Property Management, Project Management and Tenant and Landlord Representation. Founded in 2006, Franklin Street has a network of industry-leading brokers and capital partners across the country to ensure exceptional client service. Learn more about Franklin Street.
