Tampa office park goes for $79 per square foot

The 165,000-square-foot cluster of six office buildings has an 88% occupancy rate

TRD MIAMI /
Jul.July 03, 2016 09:15 AM

Cypress Point Office Park in Tampa

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

South Florida firm, partner acquire Tampa office building for $29.4M

Related Group pays $26M for rental complex in Tampa’s Bayshore area

The late George Steinbrenner’s mansion in South Tampa hits the market

Lower home prices in Pasco County draw buyers from the Tampa Bay area

Ten-year, fixed-rate loan finances warehouse space next to Tampa’s airport

South Florida firms reap 47% gain on sale of Tampa office complex

Developer pays $7.6M for downtown Tampa site to build dual-brand Hyatt hotel

Aventura firm reaps “significant value growth” in $18M sale of Tampa office complex

arrow_forward_ios