Foundry Commercial Closes on Iron Bull Industrial Development in Tampa's East Side
TAMPA, Fla. — Foundry Commercial's Development & Investments platform has closed on Iron Bull, a two-building, 147,000-square-foot infill industrial development in East Tampa, the firm announced July 21, 2026. The project will transform underutilized land behind the Dallas Bull country music venue into modern small-bay industrial space, with construction expected to begin in the coming months.
Site Assembly and Off-Market Origination
The development site consists of excess land and parking area located behind the Dallas Bull, one of Tampa's best-known country music venues. The project's name, Iron Bull, pays tribute to its location while reflecting the site's conversion to industrial use.
The opportunity was identified by Foundry Commercial Tampa industrial brokers Caitlin Quinlan and Jesse Drake while canvassing the surrounding area. After noticing the undeveloped land behind Dallas Bull, the pair introduced themselves to ownership and initiated discussions about potential development before the site was ever marketed. Foundry's Development & Investments team subsequently assembled two adjacent parcels and successfully rezoned the combined site to support the planned industrial use.
"What makes Iron Bull special is the amount of creativity and persistence required to bring it together," said David Kern, Tampa Deal Principal within Foundry Commercial's Development & Investments platform. "The original opportunity started with excess land behind a well-known Tampa landmark, but through additional acquisitions and a successful rezoning effort, we were able to assemble a site capable of supporting a meaningful small-bay industrial development. Those types of opportunities are increasingly rare in mature markets like Tampa, which is exactly why we remain focused on uncovering them."
Foundry notes that nearly half of the opportunities pursued by its Development & Investments platform originate through Foundry brokers identifying off-market sites and leveraging local relationships to create value — a dynamic that Iron Bull illustrates directly.
Project Details and Construction Timeline
Iron Bull will comprise two buildings totaling 147,000 square feet of small-bay industrial space. The development is located near Foundry Commercial's Two Palms project in East Tampa, adding to a cluster of shallow-bay industrial product the firm is building in the submarket.
Construction will be led by Foundry's Development & Investments team, with Matt Braun overseeing development and construction activities. Work is expected to commence in the coming months, the firm said.
The small-bay configuration is designed to serve a broad range of local businesses, including contractors, suppliers, service providers, distributors, and light manufacturers — users that require well-located space within established urban corridors rather than large-format logistics facilities.
Foundry's East Tampa Industrial Strategy
Iron Bull is the latest addition to Foundry Commercial's growing Tampa Bay industrial pipeline. In November 2024, Foundry and Principal Asset Management acquired just under 20 acres adjacent to Citigroup's East Tampa campus to develop Two Palms, a 262,000-square-foot shallow-bay industrial project comprising five buildings and targeting tenants in the 15,000-to-35,000-square-foot range. Construction on Two Palms was anticipated to start in the first quarter of 2025, with completion targeted for the first quarter of 2026.
The firm's Tampa Bay activity also includes a 125,000-square-foot dock-high warehouse developed on the former Carroll's Nursery site in Largo, on which Foundry closed in December 2021. That project was similarly positioned to serve local distribution users in a high-barrier, infill location, chosen for its central Pinellas access and proximity to the Gateway Expressway and other major roadways.
Across these projects, Foundry has pursued a consistent approach: identifying underutilized or obsolete sites in dense, land-constrained locations, re-entitling them, and delivering modern industrial product aimed at small to mid-size tenants.
Small-Bay Industrial Demand and Market Context
Foundry Commercial's leadership cited tightening infill land supply and sustained local business demand as the rationale for continuing to pursue small-bay development across the Sun Belt.
"Small-bay industrial continues to be one of the most compelling opportunities we see across the Sun Belt because it serves real local demand," said Pryse Elam, President of Development & Investments at Foundry Commercial. "Businesses increasingly need modern, well-located space close to their customers, employees, and transportation networks, yet developable infill sites remain scarce. Iron Bull allows us to deliver the type of product the market is seeking in a location that would be nearly impossible to replicate today."
Elam added that Iron Bull exemplifies how Foundry's integrated brokerage and development platform generates opportunities that might not otherwise surface. "This opportunity originated through the persistence and market knowledge of our brokerage team and ultimately became a development project through collaboration across multiple disciplines," he said. "It's a great example of how Foundry's integrated platform creates opportunities that might not otherwise exist."
Tampa's industrial market has seen steady absorption and limited vacant land near labor pools and major highways, pushing developers toward non-traditional sites such as nursery conversions, excess parking areas, and other underutilized parcels. Foundry has characterized developable infill opportunities in the market as increasingly rare, and Iron Bull represents an effort to deliver new small-bay supply into a submarket where modern product of that type remains constrained.