Tradepoint Atlantic, a Maryland shipping logistics company is coming to Tampa, a deal that Port Tampa Bay CEO Paul Anderson dubs “potentially one of the biggest modern opportunities in the modern history of our port.” Tradepoint Tampa will lease 35 acres and build a 500,000 square-foot distribution facility designed to move cargo between ships, trucks, and rail cars. The facility will cost around $50 million.

The 40-year lease has great potential to draw companies looking to push more cargo through Tampa.  Tradepoint Tampa will be located next to the container terminal and cold storage facility at Hooker’s Point. Companies will be able to unload directly from a dock to a truck that can deliver the cargo to its direct destination, versus a distribution facility.

The project will have a development period of about two years. Tradepoint will pay the port $30,000 per acre for per year four years, with rent increasing 12.5% every five years after. Tradepoint will not request any specific additional capital investment but may ask for easements and other forms of access. After 40 years of leasing, Tradepoint will have three options to extend the lease by 10 years.

Source: Tampa Bay Times

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