October 4, 2023
The STRO Companies and KRE Group Acquire 103,500 Square Foot Industrial Property in Largo, Florida
Tampa Bay Newswire
Tampa, FL – A partnership consisting The STRO Companies (“STRO”) and KRE Group announced their first Southeast acquisition of 12333 Enterprise Boulevard in Largo, Florida this week.
12333 Enterprise Boulevard comprises of two buildings totaling 103,500 square feet. The property is extremely desirable due to its location in the Gateway submarket with convenient access to all of Pinellas County, as well as easy access to Tampa. Additionally, it boasts Class-A construction quality.
“Our team is very excited about this transaction. We‘ve been aggressively pursuing assets in Florida as a part of our strategic expansion plan and view Tampa as a market with substantial room for growth” said Kevin Bramhall, STRO’s Director of Southeast Acquisitions. “We are appreciative of the brokers and sellers for their diligent and creative efforts in closing this transaction. We look forward to announcing more deals in Florida in the coming months.
The transaction was facilitated by Deron Thomas, CCIM, SIOR, Tyler Thomas and Kyle Harris of Industrial Realty Solutions.
“We would like to thank The STRO Companies and Cousin Corporation of America for allowing us to facilitate the sale of Cousin’s two building complex in Largo, FL. Quality industrial product, such as 12333 Enterprise Boulevard, is difficult to find in the highly desirable Pinellas County industrial market. Both the buyer and seller made the transaction an enjoyable experience leading to a successful outcome for all parties” said Deron Thomas, President of Industrial Realty Solutions.
Jonathan Kushner, President of KRE Group, stated “We are thrilled to announce our successful acquisition of 12333 Enterprise Boulevard in Largo, Florida, in partnership with The STRO Companies. This strategic move marks our entry into the Southeast market and reflects our commitment to identifying prime investment opportunities across the United States. The property’s location in the Gateway submarket, along with its Class-A construction quality, makes it an ideal addition to our portfolio. We look forward to further expanding our presence in Florida and beyond, capitalizing on the growth potential this region offers.”
In announcing this transaction, STRO also noted their expansion plans. “We are actively acquiring industrial warehouses in Northern New Jersey and the Southeast Region of the United States. Our national platform is well capitalized, allowing us to move swiftly, offer favorable terms, and execute transactions,” said Albert Fitch, Managing Director of Acquisitions and Capital Markets.
About The STRO Companies:
Founded in 1994 by Steven Millstein to service the Millstein Family office, The STRO Companies has grown into a leading investor and operator of Commercial Real Estate assets in the Tri State area and Florida. With a portfolio comprising of 4 million square feet, The STRO Companies continues to expand focusing on transforming underperforming assets into stabilized, performing opportunities. https://stro.com/
About Kushner Real Estate Group:
Founded in 1979 and headquartered in Jersey City, NJ, KRE Group is a full-service real estate investment and management company with properties in New York, New Jersey, Pennsylvania and Florida. The KRE multi-family portfolio exceeds 9,000 existing apartments, with an additional 7,000 in various stages of approval and construction. The company also owns and manages more than 6,000,000 square feet of office, warehouse, and retail space. For more information, visit the company’s website at www.thekregroup.com.