At the start of the current century, Steven Kossoff decided to relocate his real estate investment company to the Bay area from Buffalo, N.Y., in search of better opportunities. That might not have meant bigger, but it looks to have turned out that way.
Within the first few days of 2006, Meridian teamed with Hudson Realty Capital LLC to purchase the 948,578 square foot Winn Dixie grocery distribution center in Sarasota. The warehouse was the largest known sale of an industrial property in the Bay area in more than a decade.
Kossoff’s company now owns nearly two million square feet of bulk warehouses valued at more than $50 million. Other transactions over the past year include the $7.3 million purchase of a 168,000 square foot warehouse at Lakeland Interstate Business Park last summer.