Birtcher Anderson Realty and Milestone Partners have joined forces through Milestone’s recapitalization of Birtcher Anderson’s position in their recently aqcquired 676,735 SF industrial flex space property named the Tri-County Business Park located in Tampa, Florida. The property will be managed by BAR with leasing headed by Colliers. The Property was acquired in December 2017 for $41.250MM. The partnership will work together to cure deferred capital expenditures and make significant improvements to the property’s operations and aesthetics.
Milestone CEO William Wells was quoted as saying, “The Tampa industrial and industrial flex space is in strong demand. We are thrilled to partner with a sponsor as experienced as Birtcher Anderson and we see the JV’s partnership with Colliers as an ideal blend to maximize the value of the property while providing improved space that will better meet the significant tenant demand of the MSA.”
Renovations are already under way at the property with positive early returns in the form of increased rents and occupancy.