Industrial Developer Places $20.5 Million Bet on East Tampa Logistics Corridor

In the eastern reaches of Tampa, where logistics routes converge and land is increasingly scarce, a 116 acre tract has quietly changed hands, a $20.5 million wager on the enduring strength of industrial demand.

GTIS Partners, a global real estate investment firm, has acquired the site at 2998 N. 62nd Street, assembling what will become the 4Ward Logistics Center. The seller, Scannell Properties, finalized the transaction on April 7, according to Hillsborough County property records.

The project, still in its early stages, reflects a familiar but calculated risk in today’s industrial market, building without a tenant secured. GTIS plans to develop two warehouse buildings totaling approximately 382,500 square feet, with delivery projected for the latter half of 2027. Leasing efforts have been entrusted to JLL, which will market the property with flexible configurations, including spaces as small as 30,000 square feet.

What distinguishes this site is less its scale than its positioning. With frontage along Interstate 4 and direct access to Port Tampa Bay, the development sits within a corridor that has become increasingly vital to regional distribution networks. For developers and investors alike, proximity to ports and highways has shifted from advantage to necessity.

GTIS, in a statement, framed the investment as part of a broader strategy, targeting smaller format industrial properties, a segment that has remained comparatively resilient even as larger distribution centers face more tempered demand.

In that environment, development is no longer just about scale. It is about precision, where you build, how you phase, and how quickly you can deliver.