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Gateway industrial property sells for nearly $14M

March 27, 2020 - Philadelphia investment firm The Arden Group has bought the Bay Tec Center near Carillon Office Park. Arden Group, a Philadelphia-based investment firm, paid nearly $13.9 million in a deal that closed March 10, according to a deed filed in Pinellas County. Bay Tec Center is a 124,327 square foot, multi-tenant flex industrial park in the Gateway/Mid-Pinellas industrial submarket, according to the seller, Avistone, a commercial real estate developer in Laguna Niguel, California. Built in the early 1980s, the property consists of eight light industrial buildings on 11.7 acres of land.  The Arden Group’s portfolio also includes The Westshore Grand in Tampa. No one at Arden Group could be reached for comment. Avistone did not return a request for comment.

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