Clearwater Industrial Park properties sell

As reported in St. Pete Catalyst by Amy Kagan

The sale of three parcels of land in Clearwater’s Airport Industrial Park—4400,4600 and 4800 140th Avenue N., Clearwater— was recorded with the Pinellas County Clerk’s office Dec. 10 for a combined purchase price of $19.05 million.

4400 140^th Avenue N. is a one story, concrete block structure with 43,824 heated square feet, divided into separate office, retail and service areas. It was built in 1988 and is situated on 4.55 acres of land. The property also includes a 2,936 gross square-foot loading platform. 4600 140^th Avenue N. is a 50,412 gross square-foot structure built in 1988 and situated on a 4.75-acre plot of land. 4800 140^th Avenue was built in 1983 and features 61,884 gross square feet of office space, loading platforms and porches. It sits on 5.33 acres of land.

The seller, Albany Road Real Estate Partners, a Boston, Massachusetts based private equity real estate firm, purchased the three properties in 2019 for $15.39 million. The buyer is i3 Investors, an Indianapolis-based private real estate investment firm focused on industrial properties. The company, which secured a $11.7 million mortgage with GSF 2023 1 LLC, purchased the properties under the registered name Clearwater Realty IN, LLC.