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Tampa's Top Truck Parking Spots...say that 5 times fast
Tampa Truck Parking Recap
Jose Lorido
April 23, 2023
This week we are breaking down our recent road trip up and across the coast to Tampa. The team decided we change it up and invite some formidable NYC-based lot buyers who had some great local broker relations opening a new side to the region. Although they embarrassingly showed up in a Tesla, they meant business. It’s unique, let me tell you why…
Tweet of the week…:
Truck Parking Layout Basics:
1. ALL ACREAGE IS NOT THE SAME!
Try to buy the regularly shaped yard. You lose a lot of space on corners, angles and changes in elevation.
A 5 acre triangle shaped yard will not fit as many spaces as a 5 acre rectangle or square
— Rig Hut Truck Parking (@truckpark_king)
2:55 PM • Apr 22, 2023
But first, here’s what’s happening in your neck of the 🌲 woods…
🗞📰 "Senate introduces Truck Parking Safety Improvement Act" by Land Line Staff, the article outlines the purpose of the bill, which is to allocate funding for the expansion and improvement of truck parking facilities along highways and other major trucking routes.
🗞📰 "According to the American Transportation Research Institute, the need for safe truck parking ranks as the No. 1 concern among truckers and was cited by 64.4% of drivers."
🗞📰 Adam? Here. Adamlee? Here. Adamson? Here. Buttigieg?…Buttigieg?…Buttigieg?… He’s not sick…
Region Spotlight 🔦
Tampa, New and Old? Covering Pinellas and Hillsborough. Hug the Port and you should do fine.
Why Tampa?
Home to a thriving financial sector, including several major banks and financial institutions, as well as a robust healthcare industry and a growing technology sector. In addition, Tampa is a major port city, with a busy port that handles a significant amount of shipping traffic and contributes to the city's economic growth.
Strategically located in the southeastern United States, with easy access to major transportation networks and a strong infrastructure that supports both commercial and military operations. The city is home to several important military installations, including MacDill Air Force Base, which is the headquarters for US Central Command and US Special Operations Command.
Tampa is a gateway to the Caribbean and Latin America, making it an important hub for international trade and commerce.
Some stats…
According to a Q1 2023 report by CBRE, the overall vacancy rate for Tampa's industrial real estate market was 4.7%, which is lower than the national average of 5.5%.
The same CBRE report noted that the average asking rent for industrial space in Tampa was $7.59 per square foot, which is slightly lower than the national average of $8.22 per square foot.
A recent report by JLL highlighted the strength of the industrial market in Tampa, noting that the city has seen 27 consecutive quarters of positive net absorption (i.e. more space leased than vacated) in the industrial sector. The report also noted that demand for industrial space in Tampa is expected to remain strong in the coming years, driven by factors such as population growth, e-commerce, and the expansion of the port.
Streets to know: Adamo and Hillsborough Avenue, Causeway Blvd
Heard on the Street: “LLENO” - Cuban mechanic who’s friends are in and around the business. Meaning
Some boots on the ground 🚛 stats…
When looking at TP, majority of our pins concluded the long stretch the Port spits truckers out down Causeway Blvd
We came across a total of ~12 for-purpose truck lots in the area (lining Causeway via the Port exit and a nice bundle north around you guessed it…I-4)
Some examples? Causeway Truck Parking, the boys at Discount stay involved, and Domino Open
Much of the product is promoted as “paved” yet, almost none are asphalted but trucker either seem to not care just yet or haven’t had the opportunity to need to decide…tbd (similar to Orlando)
You can’t go wrong staying near I-4 but the Port’s significance, especially if you are a nearshoring preacher should attract you as well
When looking at other areas we’ve visited, Causeway has felt almost natural given its proximity to the port and our confidence in running our own lots by Port Everglades in Broward County
With port activity comes not only your fresh OTR drivers grabbing their cargo but large scale enterprises in the logistics space who need their trailers and drivers close (drayage cos., etc.)
Another free RH tip: Keep your eyes peeled for Dailies Only as well as the Quasi Truck Wash / Park
Wondering what 🚛 rates are here…🎤: Safe Peak is $300 / Monthly Truck + Trailer (April ‘23)
Rig Hut Lot Spotlight: ‘Zona Truck Parking (Calling all Panel Vans, we do not discriminate!)
We are kissing I-10!