Great Bay Distributors, one of Florida's largest distributors of Anheuser-Busch products, recently purchased a large piece of land in Pinellas County.
Located just north of Gandy Boulevard along I-275, the 96-acre vacant piece of land was once considered for a new
Tampa Bay Rays stadium and is one of the very few in
Pinellas County with a large block of contiguous space available for development; the majority of the land in the county currently available for development is considered “irregular shaped,” limiting the opportunity for large construction projects.
“The accessibility of this land to I-275 along Gandy is highly beneficial for distributors,” says
CBRE Senior Associate Jarib Rodriguez, who marketed the site for sale and negotiated the transaction on behalf of the seller,
BB&T Bank.
BB&T acquired the land through foreclosure in early 2011 before recently selling the land to
Great Bay for $9.75 million.
“Generally speaking, pricing has stabilized as more sites are bank-owned,” Rodriguez says. “Because of this, buyers are getting great opportunities to acquire land at discounted prices."
Great Bay has facilities at 3221 Grand Blvd. in Holiday and 2310 Starkey Rd. in Largo. According to Ron Petrini, president of Great Bay, the newly acquired land will not be utilized for a third facility, but instead will replace others.
Writer:
Alexis Quinn Chamberlain
Source: Jarib Rodriguez,
CBRE; Ron Petrini,
Great Bay
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.