Former Kash n' Karry HQ sells for $18.25M

TAMPA -- The former headquarters of Kash n' Karry Food Stores, not far from where Interstates 75 and 4 meet, has been sold for $18.25 million.

The deal for the 684,000-square-foot industrial complex at 6422 Harney Road in Tampa closed June 30 by 6422 Harney Road LP. That group is an affiliate of General Diversified Services in Toronto, according to Florida state corporation records, which shares the same address and owner of Agellan Capital Partners.

Agellan was founded in in 2003, and has completed nearly $1 billion of commercial real estate transactions comprised of 11.4 million square feet in both the United States and Canada, according to its website.

6422 Harney financed the purchase with an $11.1 million mortgage with Continental Casualty Co. of Chicago, according to property records.

The complex was sold by LMIW II LLC, an affiliate of Regions Bank, which purchased the property in 2013 for a little less than $18 million. That's below the $29.5 million it sold for in 1988, according to Hillsborough County property records.

Built in 1976, the distribution center has since been updated, according to CBRE Group Inc., including a conversion into a multi-tenant industrial building following Kash n' Karry's departure . CBRE has been retained as the property management and leasing company for the complex.

6422 Harney says it's planning “major capital improvements” to the property, located across from the Seminole Hard Rock Hotel & Casino off Hillsborough Avenue in eastern Tampa.