Greystar and Rockpoint Break Ground on Phase II of Gateway Logistics
Tampa / St. Petersburg, FL – March 20, 2025 – Greystar, the global leader in rental housing, investment management, development, and property management, and Rockpoint, a real estate private equity firm, today announced the groundbreaking of Gateway Logistics Phase II in St. Petersburg, Florida.
Phase II of the project will consist of three Class A shallow bay warehouse buildings totaling 332,000 net rentable square feet (NRSF) on a 17-acre portion of the overall 93-acre site. The expansion comprises one 92,841-square-foot building (Building B) and two 119,481-square-foot buildings (Buildings C and D). The buildings will include rear-loading configuration, 32-foot clear heights, ESFR sprinklers, and LED lighting. The development, just north of St. Petersburg, is strategically located with convenient access to major employment hubs.
“Gateway Logistics Center Phase II reflects our commitment to delivering high-quality, Class A industrial space serving dynamic regional and national customers, while bolstering the local economy in Pinellas,” said Lewis Stoneburner, Senior Managing Director of Development at Greystar. “We are thrilled to partner with Rockpoint on this project.”
Designed with tenant flexibility in mind, the project can accommodate users ranging from 25,000 to 120,000 square feet, including full-building tenants. Each shell building will feature a 2,900 square foot office to expedite tenant occupancy and provide businesses with early access to their new space. Additionally, the project will deliver expansive car parking with a competitive parking ratio and modern clear height specifications.
“This groundbreaking marks a significant milestone in this important industrial development,” said Benjamin Harris, Head of Rockpoint Industrial. “We are pleased to partner with Greystar on the expansion of Gateway Logistics, and to be in the Tampa market where there is a high demand for best-in-class industrial space.”
“We are excited to break ground on Phase II, building upon the success of Phase I, which has attracted a diverse tenant base including Denago EV, West Shore Homes, and Highland Cabinetry,” said David King, Managing Director of Development at Greystar.
John Jackson, JT Faircloth, and Casey Perry with Cushman and Wakefield will provide landlord leasing representation for the Phase II, which will deliver in Summer 2026. John Dunphy and Olivia Brock will continue leasing efforts for the remaining space in Phase I, which will deliver its last building in June 2025.
About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates nearly $315 billion of real estate in approximately 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. With a focus on doing things the right way, Greystar is driven by the vision of delivering world-class results with integrity. Greystar is the largest operator of apartments in the United States, manages over 1 million units/beds globally, and has a robust institutional investment management platform comprised of over $78 billion of assets under management, including approximately $36 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.
About Rockpoint
Rockpoint is a Boston-based real estate private equity firm that employs a fundamental value approach to investing, targeting select product types and markets throughout the United States. The firm applies a consistent and disciplined investment approach across its investment programs, which span distinct return profiles. Rockpoint continually assesses market opportunities and evaluates potential investments relative to intrinsic value, replacement cost, and cash flow, and targets investments that Rockpoint believes are inefficiently priced or misunderstood by the broader market. Rockpoint proactively pursues opportunities that exhibit strong value potential that can be realized through impactful asset management. Since 1994, the firm’s co-founders with others have sponsored 19 investment vehicles and related co-investment vehicles through Rockpoint and a predecessor firm and have invested or committed to invest in 503 transactions with a total peak capitalization of approximately $80 billion. Rockpoint Industrial is Rockpoint’s platform for the acquisition, development, management, and operation of high-quality industrial facilities in primary and growth markets nationally. The firm has made 13 industrial investments since 2020, representing more than 12 million square feet. To learn more, visit www.rockpoint.com.
Media Inquiries
Greystar
Bailey Zaunbrecher
bailey.zaunbrecher@greystar.com
Rockpoint
Sarah Salky / Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
(212) 355-4449
rockpoint-jf@joelefrank.com