Largo industrial site sells for $9.75 million

An industrial property in Largo has sold for $9.75 million.

The property is at 12333 Enterprise Blvd. and was bought by a pair of New Jersey real estate investment firms, STRO Cos. and the Kushner Real Estate Group.

According to a statement from STRO, there are two buildings totaling 103,500 square feet on the property which a LoopNet profile shows is 3.1 acres.

The company says the property was attractive because its location gives access to both Pinellas County and Tampa.

“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” Kevin Bramhall, STRO’s director of southeast acquisitions, says in the statement.

STRO says it is looking to expand into the Southeast and is “actively acquiring” warehouses both in the region and in northern New Jersey. It says that it is well capitalized “allowing us to move swiftly, offer favorable terms, and execute transactions.”

In addition to the new Tampa property, it’s portfolio online shows it owns a 32,760-square-foot warehouse at 1934 W. Beaver St. in Jacksonville. Its total portfolio is 4 million square feet.

As for Kushner, its multifamily portfolio includes more than 9,000 apartments, with 7,000 more in the process of getting approved and built. The firm also owns and manages more than 6 million square feet of office, warehouse and retail space.