Ultimate Realty acquired the PODS Portfolio located in Pinellas Park and Tampa, Florida. The PODS Portfolio is comprised of three buildings totaling approximately 156,000 square feet and sits on a total of 3.5 acres. The properties were purpose built for PODS and have 33’-38’ ceiling heights. They are both well located with access to I-275. The rental rate is well below market on all of the properties with a WALT of approximately 15 months. The acquisition was made at 15% discount to replacement cost. The thesis behind  this acquisition was to renew the PODS tenancy at market or re lease the buildings to other tenants.