A Naples company is breathing new life into a 45-year-old complex on the north side of Tampa International Airport, which had been vacant for about a decade. The $11 million Westshore Logistics Center is expected to create -- or bring -- 50 to 100 jobs to the neighborhood.
“Because of my risk taking, and the county’s support, we are creating new jobs and a significant tax base,” says Gerard Keating, owner and CEO of Keating Resources, the project developer.
The property had become a hazard -- and work involved major demolition and rehabilitation to four buildings totaling about 167,000 square feet.
Keating Resources, owned by Keating, secured a $403,648 grant from Hillsborough County as part of its Redevelopment Incentives for Pilot Project Areas program, which targeted four redevelopment areas. These include the North Airport Redevelopment Area, the 56th Street Redevelopment Area, the University Redevelopment Area and the Palm River Redevelopment Area.
In addition to bringing jobs to the neighborhood and creating an estimated $126,981 annual ad valorem tax stream, the grant program helps the county by removing blight, promoting private capital investment, and enhancing small business.
“The [more suburban] county is new at this game,” explains Eric Lindstrom, Competitive Sites and Redevelopment Manager for Hillsborough County’s Economic Development Department. “Tampa has done it for a number of years.”
XPO Logistics moved into about 21,900 square feet of leased space about two months ago. The other three buildings were completed last week; Cushman and Wakefield is handling leasing for the remaining 144,780 square feet.
The Westshore Logistics Center at 5400 Southern Comfort Blvd. sits at West Hillsborough Avenue and the Veterans Expressway in a five-mile area with some 216,087 people. The property, which originally contained smaller units, now is slated for eight office/warehouse units of approximately 20,000 square feet each. It was completely remodeled into a professional space with new roofs, new LED lighting, new doors, new storefronts and windows, interior and exterior paint, a new fire sprinkler system and more.
Its flexible space accommodates both office and warehouse, and features two glass front office entrances per building.
The upgrade comes at a time when TIA is bustling. The airport had a record number of travelers in 2017, when it logged more than 19.6 million passengers. The airport has been upgrading, adding 69 new shops, restaurants and services. A new 1.5-mile SkyConnect train connecting passengers to a state-of-the-art rental car center is now open, along with a second phase of construction to include expanded Main Terminal curbsides, offices, a hotel and more.
Hillsborough County, which set aside about $2 million for the grant program, has committed $819,735 to six projects so far. Its first was The Danger Zone, a 3,000-foot office project in the North Airport Redevelopment Area, to which it committed $38,698.
It took awhile for the companies to develop plans and submit their applications. “We’re getting going now,” Lindstrom says. “It’s really starting to heat up.”