10+ acre site sold to local manufacturer.
TAMPA, Florida (June 4, 2025) –
Today, Franklin Street announced it has successfully brokered the sale of 2063 20th Avenue in Largo—a 10+ acre industrial land build to suit site—for $8.6 million. The property, currently an industrial outdoor storage space for damaged vehicles following Hurricanes Debby and Milton in 2024, was sold on behalf of Miami-based investment firm Sason that had purchased the same property a year earlier for $4.85 million. Brad Hutton, a director for Franklin Street, was the lead broker and represented the seller. Pinellas County Economic Development was involved in the transaction, helping secure the site for the buyer, a local manufacturer.
“Franklin Street offers tailored solutions to our clients, and this property has allowed us to be problem solvers for our client and contribute to Pinellas County’s recovery and economy,” Brad Hutton, director of Land, Office & Industrial, Franklin Street, said. “In just a year’s time we helped our client purchase the land, identify a short-term tenant that assisted in hurricane recovery, worked with Pinellas County Economic Development to help a local manufacturer expand its operations, and finalized the sale of the property at a 77% increase in value. I’m proud of this team’s ability to be agile, serve our client, and support our community.”
The property site is in a well-established industrial submarket but had been an obsolete piece of land prior to Sason’s ownership. Sason was intentional in its approach and invested in the site once it took ownership, made improvements to the land, and created value to meet a significant demand in the space. The result: a local manufacturer will occupy the space when the lease for the current tenant, Insurance Auto Auctions, expires.
“Pinellas County boasts a long and vibrant history of manufacturing, and we continue to target this innovative and high-growth sector,” Dr. Cynthia Johnson, director of Pinellas County Economic Development, said. “We are delighted to witness the enhancement of our county’s reputation for advanced manufacturing. Pinellas County is pleased to have partnered with Franklin Street and offer site selection assistance and resources to facilitate growth and ensure this company remains in Pinellas. This project is a testament to the strength and success of our manufacturing sector and the collaborative spirit of partners like Franklin Street in driving our economic development.”
Hutton was assisted by Franklin Street team members Patrick Kelly, regional managing director, David Hovis, senior associate, and Andrew Fernandez, associate. Across the Gulf Coast’s six country region, 23% of existing regional industrial space is in Pinellas County. However, this inventory is older, with more than 95% of the existing industrial space built before 2010. Hutton also offered insight into the importance of working with informed brokers that can tailor solutions due to the high demand for industrial land available for manufacturing within the county.
“With such a high demand by manufacturing uses for industrial land in Pinellas County, it is vital to work with brokers with local knowledge to find the right opportunity to fit your needs and budget.”
Pinellas County’s highly desirable and densely populated location fuels its robust industrial market, with over a third of industrial space dedicated to manufacturing and most subareas experiencing vacancy rates below 5%. This property was sold off market and closed on May 1, 2025.
About Franklin Street:
Founded in 2006 during one of the toughest real estate climates, Franklin Street focused on delivering value-added solutions to meet the evolving needs of clients. Through a collaborative philosophy of leveraging the resources, expertise, and experience of each of its lines of business, Franklin Street has grown to include seven business divisions – Investment Sales, Tenant and Landlord Representation, Capital Advisory, Insurance, Property Management and Project Management. Franklin Street offers unmatched value and optimal solutions for clients nationwide. Headquartered in Tampa, Fla., the firm has teams located in top markets throughout the country and works with owners and occupiers of commercial real estate nationwide. Learn more about Franklin Street at FranklinSt.com.
