News Summary
NVGTN, a burgeoning activewear company in the U.S., has completed a $22.5 million sale-leaseback transaction for its headquarters located in the Trinity Commerce Center. This transaction, facilitated by Cushman & Wakefield, marks a significant development in the Tampa Bay industrial real estate market. As a fully leased facility, the Trinity Commerce Center spans 100,000 square feet and is equipped with modern industrial features. This strategic move not only provides NVGTN with capital but also allows the company to continue its operations and support further growth in the state.
Trinity, Florida – NVGTN, a rapidly growing activewear brand in the U.S., has finalized a $22.5 million sale-leaseback transaction for its headquarters, the Trinity Commerce Center, with Greek Real Estate Partners, a New Jersey-based real estate firm. The transaction was completed recently, marking a significant development in the area’s industrial real estate market.
The Trinity Commerce Center, located at 1990 Corporate Center Drive, spans 100,000 square feet and features modern amenities suitable for industrial use. The facility, which was completed in 2024, is currently fully leased to NVGTN and showcases a range of facilities including a clear height of 34 feet, 21 dock-high doors, and three oversized drive-in doors along with energy-efficient LED lighting.
Cushman & Wakefield played a crucial role in facilitating this transaction, representing NVGTN throughout the process. Key representatives from Cushman & Wakefield involved in the sale included Rick Brugge, Mike Davis, Rick Colon, Trey Carswell, and Lisa Ross. They highlighted the Trinity Commerce Center as a prime investment opportunity in the Tampa Bay industrial market, indicative of the region’s appeal for industrial real estate investments.
Greek Real Estate Partners is known for its focus on developing and operating industrial properties, and this acquisition marks their ongoing expansion into Florida. The firm aims to tap into the growing demand for industrial spaces in the area, leveraging the strategic location of the Trinity Commerce Center and the overall economic growth of the Tampa Bay region.
Founded in 2018, NVGTN has quickly established itself as one of the fastest-growing brands in the activewear market of the United States, boasting a customer base that spans over 180 countries. This sale-leaseback arrangement not only provides NVGTN with immediate capital but also allows the company to maintain its operational footprint in the state while potentially enabling further growth and expansion.
The industrial real estate market has been experiencing significant activity in Florida, with several notable projects and transactions occurring in the region. Recently, a waterfront home under construction in Sarasota’s Harbor Acres neighborhood sold for $14.8 million, becoming the highest-priced residential sale in Sarasota County this year. Moreover, Kolter Urban and BH Group opened a sales gallery for the Olana Naples Residences, a luxury development priced starting at $30 million.
In addition to residential real estate, the Tampa Bay area is witnessing a surge in industrial investment, with Basis Industrial acquiring a portfolio of five business parks for $60 million. Furthermore, developers PMG and MoneyShow secured a substantial $208 million construction loan for One Park Sarasota, an 18-story luxury condominium project in downtown Sarasota, showcasing the area’s growing attraction for both residential and commercial investments.
As the region’s economy continues to flourish, new developments such as Cirque St. Armands Beachside, a boutique hotel inspired by Sarasota’s circus heritage, have opened with 135 rooms located near Lido Beach. Additionally, Kolter Group has announced a new luxury mixed-use development featuring residential condominiums alongside a full-service Hyatt Centric Harborside hotel at 1000 Boulevard of the Arts in Sarasota.
In the office sector, American Integrity Insurance has recently signed a 75,000-square-foot lease at Bayport Plaza, a Class A office tower located in Tampa’s Westshore submarket, indicating a strong demand for office space in the rapidly growing Tampa Bay area.
The completion of NVGTN’s sale-leaseback transaction with Greek Real Estate Partners highlights not only the strength of the Tampa Bay market for investors but also reflects ongoing trends in the industrial sector, underscoring the area’s robust economic development.
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- TBBW Magazine: NVGTN Sells Trinity Commerce Center
- Wikipedia: Real Estate
- Connect CRE: NVGTN Sells & Rents Back Trinity Warehouse
- Google Search: Industrial Real Estate Florida
- Business Observer: Activewear Online Retailer Investment
- Encyclopedia Britannica: Activewear
Author: STAFF HERE TAMPA WRITER
The TAMPA STAFF WRITER represents the experienced team at HERETampa.com, your go-to source for actionable local news and information in Tampa, Hillsborough County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Gasparilla Pirate Festival, Florida State Fair, and Tampa Riverfest. Our coverage extends to key organizations like the Tampa Bay Chamber of Commerce and United Way Suncoast, plus leading businesses in healthcare, finance, and technology that power the local economy such as BayCare Health System, Grow Financial Federal Credit Union, and KnowBe4. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERESTPetersburg.com, and HERETallahassee.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
