Commercial buildings near Tampa sell for $9.2M

The price for office/flex property in Riverview equated to about $112 per square foot

TRD MIAMI /
Oct.October 01, 2016 02:30 PM

Miami-based City National Bank of Florida sold a two-building commercial development near Tampa for $9.225 million, or about $112 per square foot, with representation from brokerage firm Marcus & Millichap.

City National sold the 82,330-square-foot Crescent Park development in Riverview as trustee of a land trust agreement dated March 27, 2008. The new owner, John Navrati, closed the purchase September 20.

Built in 2007, Crescent Park comprises two office/flex buildings on a 9.25-acre site at the intersection of U.S. Highway 301 and Interstate 75, close to the Port of Tampa.

One of the buildings measures 53,450 square feet and is fully occupied with eight tenants. The other is a single-tenant building spanning 28,880 square feet. It is occupied by Cardno Entrix, a publicly traded company listed on the Australian Securities Exchange,

“Crescent Park provides Mr. Navratil with two fully stabilized, newly constructed flex buildings with long-term credit tenancy and a strong return on his investment,” Douglas  K. Mandel, a senior vice president of Marcus & Millichap’s Fort Lauderdale office, said in a written statement.

Mandel negotiated the sale of Crescent Park with two Marcus & Millichap  colleagues in the firm’s Orlando office, senior associate Robbie McEwan and industrial and office investment associate Nicholas Hansen.


Related Articles

arrow_forward_ios
NAI/Merin Hunter Codman Chairman Neil Merin and Golden Bear Plaza

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M

Golden Bear Plaza office complex in Palm Beach Gardens sells for $50M
Anabella Smith, Louis Archambault, Scott Goldstein

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida

“There’s a lot of concern about going back to an office”: how companies are returning to work in South Florida
Jeff Greene and a rendering of 550 North Quadrille Boulevard (Credit: Arquitectonica International via Facebook)

Billionaire Jeff Greene battles with WPB mayor over unfinished office building

Billionaire Jeff Greene battles with WPB mayor over unfinished office building
(Credit: iStock)

Here’s how South Florida’s office market is changing in the coronavirus era

Here’s how South Florida’s office market is changing in the coronavirus era
Richard Kayne, Founder and Co-Chairman of Kayne Anderson Capital Advisors, 5645 Military Trail Lake Worth Beach (Credit: Google Maps)

Kayne Anderson buys medical offices in Lake Worth Beach

Kayne Anderson buys medical offices in Lake Worth Beach
One Clearlake Centre, JLL Capital's Maxx Carney, Chris Drew and Ike Ojala

West Palm office tower scores $39M loan

West Palm office tower scores $39M loan
From left: David Weitz, Steve Wernick, Michael Lirtzman, Joe Furst, and Erik Rutter

Silicon Valley heads to Wynwood’s office market

Silicon Valley heads to Wynwood’s office market
Philip Procacci, 11430 Northwest 20th Street and 11410 Northwest 20th Street (Credit: Google Maps)

Procacci sells two office buildings near Dolphin Mall for $29M

Procacci sells two office buildings near Dolphin Mall for $29M
arrow_forward_ios

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

Loading...