Tampa office park goes for $79 per square foot

Miami /
Jul.July 03, 2016 09:15 AM

A 165,000-square-foot office park in Tampa with an 88 percent occupancy rate sold for $79 per square foot.

A joint venture of Highline Real Estate Capital and Seifra Capital bought the six-building Cypress Point Office Park for $13.1 million.

“I am extremely excited about our investment in Cypress Point and love our basis in the project at only $79 per square foot,” David Moret, the founder of Highland, said in a prepared statement.

Moret also said the Tampa office market has seen strong growth, and there is “virtually no new supply in the pipeline.”

Jeffrey Morris and Bret Felberg from JLL represented the seller, Tomorrow VII Cypress, LP, in the sale.

Tarik Bateh from JLL’s Capital Markets Group arranged an acquisition loan from TD Bank for the buyer, HRE/Seifra Cypress, LLC.

Focus Real Estate Services will provide property management and leasing services for Cypress Point, located at 1004-10014 Dale Mabry Highway.


Related Articles

arrow_forward_ios
1905 Clint Moore Road in Boca Raton with Healthcare Trust of America interim President and CEO Peter Foss (Google Maps, Healthcare Trust of America)
Healthcare Trust of America buys Boca Raton medical offices for $50M
Healthcare Trust of America buys Boca Raton medical offices for $50M
Vlad Doronin, Jonathan Goldstein and CEO Satya Nadella (Getty)
Microsoft to lease 50K sf office at under-construction Brickell tower
Microsoft to lease 50K sf office at under-construction Brickell tower
2229 North Commerce Parkway in Weston and Montecito CEO Chip Conk (Google Maps, Montecito)
Weston medical office building trades for $17M
Weston medical office building trades for $17M
Office building by Lincoln Road in Miami Beach trades for nearly $50M
Office building by Lincoln Road in Miami Beach trades for nearly $50M
Office building by Lincoln Road in Miami Beach trades for nearly $50M
Dennis Friedrich, founding principal of TFK Real Estate Investment, and Grant Horwitz, managing principal of Fox Ridge Capital, with the property (TFK, Fox Ridge, Cushman and Wakefield)
JV buys Hollywood office campus for $50M
JV buys Hollywood office campus for $50M
9801 and 9901 Belvedere Road in Royal Palm Beach (Google Maps)
Acquest Development buys Royal Palm Beach offices for $23M
Acquest Development buys Royal Palm Beach offices for $23M
Office America Group Founder and CEO Ricardo Hernandez with a rendering of Deco Green (The Martin Architectural Group)
Deco Green multifamily, mixed-use project in Lake Worth Beach moves forward
Deco Green multifamily, mixed-use project in Lake Worth Beach moves forward
Televisa Building in Virginia Gardens (Crexi, Getty)
Grupo Televisa sells Virginia Gardens office building for $13M
Grupo Televisa sells Virginia Gardens office building for $13M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...