Clearwater office building sells for $10.15 million

Miami /
Apr.April 23, 2017 04:00 PM

Commercial real estate brokerage Marcus & Millichap announced the sale of an office building in Clearwater for $10.15 million, or $170 per square foot.

The 59,514-square-foot building at 15950 Bay Vista Drive in Clearwater is the headquarters of Vology Inc., an international provider of information technology services at 20,000 customer locations.

“With a new 10.5-year lease in place and more than $3.2 million in improvements completed, the property is well positioned to provide new ownership with a steady income stream over the foreseeable future,” Douglas Mandel, senior managing director investments in Marcus & Millichap’s Fort Lauderdale office, said in a prepared statement.

Mandel and Nicholas Hanson, an associate in the  Orlando office of Marcus & Millichap, represented the seller, Ryan Companies.

Mike James, senior managing director investments, and Ryan Sobel, associate, procured the 1031-exchange buyer. James and Sobel are based in Marcus & Millichap’s office in the Encino, California.


Related Articles

arrow_forward_ios
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Moishe Mana and the downtown parking lot he purchased (Google Maps, Getty)
Moishe Mana expands downtown Miami assemblage with $12M purchase
Moishe Mana expands downtown Miami assemblage with $12M purchase
Movers & Shakers: CBRE hires two senior vice presidents & more
Movers & Shakers: CBRE hires two senior vice presidents & more
Movers & Shakers: CBRE hires two senior vice presidents & more
arrow_forward_ios

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

Loading...