Colliers Brokers $23.5 Million Industrial Real Estate Sale of Clearwater Portfolio to The Bromley Companies
CLEARWATER, Fla. — Colliers has brokered the $23.5 million sale of the 62nd Street Industrial Portfolio, a two-building industrial real estate asset totaling 202,622 square feet in Clearwater, Fla., the firm announced May 19, 2026. Bromley Companies acquired the portfolio from a partnership between Blue Steel Development and Dubuque Capital.
The properties are located at 14480 and 14550 62nd Street N within the Gateway submarket of Pinellas County, which Colliers described as highly supply constrained.
Colliers Represented Seller and Arranged Acquisition Financing
Robyn Hurrell, executive vice president with Colliers, and Kyle Kidd, vice president with Colliers, represented the seller in the transaction. In addition to the disposition advisory, Colliers Debt & Structured Finance arranged acquisition financing for The Bromley Companies through a non-recourse bank following what the firm described as a highly competitive process. Nathan Lynch and Mike Sogluizzo of Colliers advised on the financing execution.
Portfolio Details: Vacancy, Lease Term, and Industrial Outdoor Storage
At the time of sale, the portfolio was 75% occupied, with approximately 51,000 square feet of vacancy remaining. The weighted average lease term stood at 2.3 years, and Colliers cited a 94% mark-to-market opportunity across the existing rent roll. Physical attributes included cross-dock loading, fully fenced industrial outdoor storage (IOS), and clear heights ranging from 26 to 30 feet.
Costa Custom Boats, the portfolio's largest tenant, occupied more than 54,000 square feet across both buildings at the time of sale, using the space as a manufacturing facility and headquarters for high-end open-water vessels. Knight Broadband occupied approximately 30,000 square feet alongside roughly 1.5 acres of IOS on the southern portion of the property.
"The real estate itself told the story on this one," said Hurrell. "Once groups got through the buildings and saw how these tenants were actually operating within the space, the opportunity became extremely compelling. Costa Custom Boats currently manufactures high-end open-water vessels out of the property, which serves as a mission-critical manufacturing facility and headquarters operation. In addition, Knight Broadband has approximately 30,000 square feet alongside roughly 1.5 acres of IOS on the southern portion of the property, which is an incredibly difficult real estate combination to replicate in Pinellas County today."
Value-Add Industrial Real Estate Acquisition in a Supply-Constrained Submarket
According to Colliers, the transaction attracted significant interest from value-add industrial investors pursuing opportunities with embedded rental upside in highly constrained infill markets. While the offering carried near-term rollover exposure and vacancy risk, investor interest was driven by the portfolio's functionality, operational utility, and the limited availability of comparable industrial product within Pinellas County.
Seller Repositioned Asset from Vacant Single-Tenant Property
The ownership partnership originally acquired the vacant property in August 2019 from Pinch-A-Penny Pool Supplies, taking on significant repositioning and lease-up risk at the time of purchase. Over the course of its ownership, the partnership transformed the project into a functional multi-tenant industrial asset serving a diverse group of operating businesses throughout Tampa Bay.
Blue Steel Development, one of the selling partners, is a privately held investment firm with offices in Lakeland, Fla., and Chicago. The firm has invested or developed more than 15 million square feet since its inception in 2016 and is currently active with projects in seven states.
The broader tenant roster at the time of sale reflects the local and regional industrial users that Colliers said continue to drive demand throughout Pinellas County's infill industrial market.
About the Transaction Advisors
Robyn Hurrell specializes in industrial investment sales across Florida and Georgia and has been involved in more than $1.75 billion of industrial transactions during her career. Kyle Kidd focuses on the acquisition and disposition of industrial assets across Florida, Georgia, and the broader Southeast. Nathan Lynch, executive vice president in Colliers' Tampa Debt & Structured Finance office, has been directly involved in the placement of more than $2 billion in commercial real estate debt. Mike Sogluizzo is an associate in Colliers' Tampa Debt & Structured Finance group.
Sources
Colliers — Clearwater, Fla., industrial portfolio sells for $23.5 million (May 19, 2026)