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News release

ST. PETERSBURG, FL

JLL Tapped to Lease a 1.7 million Square Feet Industrial Portfolio in Pinellas County


ST. PETERSBURG, August 24, 2015 – As demand for industrial space continues to increase in the Tampa Bay area,  JLL (NYSE: JLL) has been tapped to lead the leasing efforts for a commercial real estate portfolio consisting of five industrial parks, totaling approximately 1.7 million square feet in Pinellas County.

JLL’s Senior Vice Presidents John Dunphy and Vice President Scott Altieri are spearheading the leasing efforts on behalf of Evergreen Industrial Properties, which recently purchased the portfolio of industrial parks for $103 million from Miami-based Fleeman Family Trust. Including the Gateway Business Center, Gateway Business Park, Metropointe Commerce Park, Westbay Corporate Center, and Joe’s Creek Industrial Park, the portfolio consists of Class A, B and C industrial space located within the Gateway and South Pinellas industrial submarkets in the Tampa and St. Petersburg area.

“We expect leasing activity to remain strong in the Gateway and South Pinellas industrial submarkets as companies seek expansion and industrial properties suitable for various uses, including a corporate headquarters,” said JLL’s John Dunphy. “We expect to see strong rental growth due to the area’s strategic location between Tampa and St. Petersburg.”

The portfolio is 84 percent leased and includes high caliber tenants such as Lockheed Martin, Jabil Circuit, L-3 Communications, FedEx, MTS Systems Corporation, Worldpac Corporation, Digital Lightwave Inc., and Jagged Peak. The properties are suitable for companies that can house both manufacturing and warehousing operations.

According to JLL’s Q2 Industrial Market research, vacancy has steadily declined since the beginning of 2013 with the Pinellas submarkets continuing to have the lowest vacancy rate, which should continue declining due to the limited land available for new construction.

For leasing opportunities, contact John Dunphy of JLL at (813) 387-1312 or Scott Altieri of JLL at (813) 387-1313.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $56.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​