Westmount Realty Capital Announces Sale of 332,250-Square-Foot Industrial Portfolio in Tampa

Westmount Realty Capital, LLC, a Dallas-based real estate investment company, is pleased to announce the sale of a 332,250-square-foot, 14-building in-fill industrial portfolio located in the Westside/Airport submarket of Tampa, Florida. The portfolio consisted of six showroom and flex buildings on West Waters Avenue, two rear-load dock-high buildings on Sunstate Street and six front-load dock-high distribution warehouse buildings on Pioneer Park Blvd.

“Westmount acquired this portfolio in 2013 and through exterior upgrades we were able to keep the property competitive and increase occupancy rates from 75 to 94.5 percent,” said Clifford Booth, president and CEO of Westmount. “Our strategy includes targeting value-add and opportunistic industrial properties and we are actively seeking to acquire these types of properties across the U.S.”

The original business plan for this investment was achieved on schedule and Westmount determined that, given the robust sales environment, it was an opportune time to exit the investment. Other factors included the size of the property and its location.

This industrial portfolio was strategically located to provide access to the entire Tampa region via nearby Veterans Expressway, Interstate 275, as well as the Tampa International Airport. The multi-tenant properties were constructed in the 1980s and have undergone a significant renovation bringing them back into prime leasing condition. Improvements to the property include exterior paint, new signage and graphics, improved landscaping and made-ready vacant suites.

Westmount currently has more than 15.8 million square feet of industrial space throughout the U.S.

For more information, contact:
Westmount Realty Capital, LLC
Alice Kettle, Manager of Investor Relations
214-884-3702
akettle@westmountrc.com

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