FedEx Ground Facility in St. Petersburg Sells for $58.2M
The 236,976-square-foot FedEx Ground distribution center at 1950 102nd Avenue N in St. Petersburg sold for $58.2 million, 38% below its 2021 price.
The FedEx Ground distribution center at 1950 102nd Avenue N in St. Petersburg has sold for $58.2 million. The industrial facility spans 236,976 square feet on roughly 63 acres near Interstate 275. WSRE CP Last Mile Investors LLC bought the property in October 2026 from MAPS 1950 102 Avenue LLC.
The price marks a steep drop from the last transaction. MAPS 1950 102 Avenue LLC, a Mirae Asset Global REIT affiliate, paid $94.5 million in November 2021. The 2026 sale is roughly 38% below that figure.
The 2021 purchase carried a $56.7 million mortgage from Standard Chartered Bank at about 2.85%. Approximately $56.7 million of the sale proceeds is expected to go toward repaying the outstanding debt.
Scannell Properties built the facility in 2017. It has 61 dock-high loading doors, 30-foot clear ceilings and expansion capacity of 75,000 square feet. FedEx Ground has been the tenant since opening.
The deed does not specify changes to FedEx's lease. The buyer has not detailed plans for the facility.
- Address
- 1950 102nd Avenue N, St. Petersburg, FL 33716
- Floors
- 1
- Sq ft
- 236,976
Every filing, company, change and story we have on this project, completed as of our latest read of the record.
Every new Tampa Bay project, in your inbox at 8.
Read from the permits and filings each morning and written up as news. Free.
Free · unsubscribe anytime · no spam, just projects
Groundbreak covers 8 markets
Popular this week in Tampa Bay
More from Tampa Bay
All coverage ↗
Comfort Suites Near Tampa Airport Sells for $10.5M
Primrose School of South Tampa Sells for $11M
47-Unit Senior Apartment Expansion Planned in St. Petersburg
St. Pete Closes $6.4 Million Land Sale for The Central
Tratt Properties' 1.35M SF Warehouse Under Construction in Winter Haven
