First phase of construction begins at 965-acre Double Branch

TAMPA, FL, November 21, 2024 – With the concrete slab poured the first week of November, the first phase of vertical construction is officially underway at Double Branch, a 965-acre Super Park in Pasco County.

Prefacing this milestone moment in the project’s growth, Nathan Lynch and Mike Sogluizzo of Colliers’ West | Central Florida Structured Finance Team sourced the financing for Phase I of 75 Logistics at Double Branch. The non-recourse construction financing was secured through a Life Insurance Company execution in late August.

Located at the immediate southeast quadrant of Interstate 75 and State Road 52, 75 Logistics at Double Branch is entitled for up to 4.5 million square feet of industrial space, planned to be complete over multiple phases. Phase I, which includes three rear-load buildings already under construction, totals over 482,550 square feet (buildings B, C and D are 202,430 square feet, 155,661 square feet and 124,462 square feet, respectively) and are suited for users requiring ±30,000 SF to upwards of ±200,000 SF under one roof. Additionally, Columnar has plans for a 1.6 million square foot build-to-suit distribution hub and a 400,000 square foot cross dock building as part of Phase I.

All utilities and infrastructure serving Phase I of 75 Logistics at Double Branch are in place, including a newly lit interstation at State Road 52, enabling easy four-way access to I-75. The anticipated delivery dates of Buildings B, C and D are July, August and September 2025, respectively.

“This is a massive project that has been in the works for years, and we’re thrilled to break ground on the first phase of the development,” said Robyn Hurrell, SIOR, Executive Vice President at Colliers, who is leading the leasing efforts for the industrial portion of the development. “The Double Branch project is going to ignite the commercial development along State Road 52, which we believe will replicate the growth and success that we’ve seen along the State Road 54 corridor throughout the last decade.”

Columnar is developing the nearly 1,000-acre Double Branch mixed-use project. Once complete, it’s expected to include 1 million square feet of office space; 3,500 multifamily, townhomes, and lifestyle units; 500,000 square feet of retail, restaurant and entertainment space; two hotels; 250 acres of healthcare, wellness and life sciences development; and more than 200 acres of parks and trails, in addition to the up to 4.5 million square feet of industrial/ distribution space.

“As for prospective industrial tenants, we expect to see interest from building supply distributors, which are among the largest occupants of warehouse space in the Central Florida region, as well as manufacturing users in the life sciences space, due to Pasco County's ongoing recruitment in the life sciences industry,” Hurrell said. “Still, we plan to cast a wide net, as this development is an attractive opportunity for many types of industrial users.”

“The Colliers team has been an excellent long-term partner for us at Double Branch”, said Matt Omundson, managing Director at Columnar. “It’s a truly unique experience when you can work with an integrated team that provides excellent service through-out multiple facets of the development, including capital markets, debt, and leasing.”

Columnar intends to replicate its success along I-75 following their recent development and successful disposition of Tri-County 75, a 95% occupied, 816,000 SF speculative industrial park in Fort Myers.

Media Contact:

Noelle Fox

Noelle@truebluecommunications.com

About Colliers

Colliers is a leading diversified professional services and investment management company. With operations in 68 countries, our 19,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 29 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of approximately 20% for shareholders. With annual revenues of $4.3 billion and $96 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors and our people. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.

About Columnar

Columnar is a vertically integrated real estate investment and development company which sets itself apart from its competitors by having the capabilities in house to take a piece of land from greenfield through vertical construction. A close-knit team of managers and engineers have decades of experience in all facets of the complex development process including land entitlements, zoning, infrastructure improvements, master-planning, lot development, ground-up construction and development. Currently, Columnar is busy developing over 4,000 acres of land including 3,500 single-family lots, 3,000 multifamily units, 5 million square feet of industrial distribution, and over 2 million square feet of retail and medical uses, across 5 states in the Sunbelt. Additionally, Rockwell Homes, an affiliate, is building single-family home across Florida and Texas. Columnar has family roots in Traylor Construction Group, a third-generation, family owned heavy civil, marine, and industrial contractor founded in 1946.