COMMERCIAL REAL ESTATE SERVICES


PRESS RELEASE

 

For Immediate Release

 

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Elizabeth Cross

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Lauren Crawford

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VF IMAGEWEAR GROWS OPERATIONS IN TAMPA BAY  
***
Takes 222,000 SF at Oak Creek I in Riverview

Tampa, FL – September 22, 2011 – VF Imagewear continues growing in Tampa Bay. The industry apparel company inked a new lease at Oak Creek I, taking the full 222,000-square-foot building. CB Richard Ellis brokers, Rick Narkiewicz and John Jenkins were the sole brokers in the transaction.

VF Imagewear’s new facility, Oak Creek I is located at 8221 Eagle Palm Drive in Riverview. The Class A distribution facility was built in 1999 and sits on a 19-acre lot located less than four miles from the US 301/I-75 interchange. The location lends greater operational capacity for VF Imagewear in a smaller footprint. In addition to the 222,000 sq. ft. on the ground (including 24,000 sq. ft. within a two-story office space), VF will be using 80,000 sq. ft. of mezzanine space in order to access more functional space within the facility.

Speaking on the market, CBRE First Vice President Rick Narkiewicz said, “About 50% of the large blocks of Class A space in this market have been absorbed within the last 60 days. Demand for modern Class A construction is high and supply is quickly diminishing.”

Modern Class A industrial buildings offer benefits of increased operational capacity with higher clear height, reduced operational expenses with greater efficiencies concerning energy use and space functionality, and offer greater security for products and machinery with advanced ESFR protection and secure construction built with hurricane resistance in mind.

“VF will be maximizing their new space with a three-story picking system for handling materials. The location at Oak Creek I also allows for quicker access to the manufacturing company’s distribution routes,” said John Jenkins, a Senior Vice President with CBRE.

VF Imagewear also occupies nearly 220,000 square feet at 6422 Harney Road, where they renewed their lease at the end of July this year. The Tampa-based subsidiary of VF Corporation (NYSE: VFC) is responsible for the company’s licensed sports apparel business. 
 

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CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.

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