Tampa-area business parks trade for $16M

A California firm paid about $69 per square foot for two business parks with 231,867 square feet of light industrial space

Miami /
Sep.September 03, 2017 09:30 AM

A portfolio of two Tampa-area business parks with light industrial space totaling more than 200,000 square feet sold for $16.09 million.

Laguna Niguel, California-based real estate investment firm Avistone paid about $69 per square foot for the Airport Corporate Center in Tampa and the Bay Tec Center in St. Petersburg.

The two business parks have a total of 14 light industrial/flex buildings with 231,867 square feet of space.

The Airport Corporate Center, built between 1982 and 1984, is located at 6702-6712 Benjamin Road in Tampa. The Bay Tec Center was built in 1985 at 2810-2880 Scherer Drive North in St. Petersburg.

The seller was Calare Properties, a private Massachusetts-based real estate investment firm and operator.

Institutional Property Advisors, a division of brokerage firm Marcus & Millichap, represented the seller and procured the buyer.

The exclusive listing to market the portfolio was held by Douglas K. Mandel, senior managing director of the Marcus & Millichap office in Fort Lauderdale, and Nicholas Hanson, an office and industrial property specialist in the brokerage firm’s Orlando office.


Related Articles

arrow_forward_ios
From left: Michael Helpern, Richard Hottinger and Norma Jean Callahan
Movers & Shakers: Ackman-Ziff hires Michael Helpern as director & more
Movers & Shakers: Ackman-Ziff hires Michael Helpern as director & more
From left: GLP Capital Partners’ Alan Yang, David Martin and Stephen Bittel with 7777 Northwest 41st Street in Doral (Google Maps; GLP; Terra)
Terra, Terranova sell 24-acre property in Doral for $55M
Terra, Terranova sell 24-acre property in Doral for $55M
Clockwise from left: A rendering of Water Street Tampa, Ian Schrager, Jeff Vinik, Patrick Mahomes, rendering of Tampa Edition, Bill Gates and Tom Brady (Photos via Getty; Water Street Tampa/Photo Illustration by Kevin Rebong for The Real Deal)
Development boom in Super Bowl city: Tampa reaches for its real estate moment
Development boom in Super Bowl city: Tampa reaches for its real estate moment
David Purisch and Duff Rubin
Movers & Shakers: Duff Rubin takes over Coldwell Banker in Florida & more
Movers & Shakers: Duff Rubin takes over Coldwell Banker in Florida & more
1930 Northwest 23rd Street with (from left) Shane Neman, Richard Kilstock and David Aaron (Getty, Arkadia, Neman Ventures)
Arkadia buys cold storage warehouse in Allapattah for $5M
Arkadia buys cold storage warehouse in Allapattah for $5M
Michael Betancourt, Tyler Kuhlman & Dustin Ozga
Movers & Shakers: Colliers hires new brokerage director & more
Movers & Shakers: Colliers hires new brokerage director & more
Mihaela Coprean and Alfonso Costa Jr.
Movers & Shakers: Falcone Group hires HUD’s former deputy chief of staff, Metropica taps biz development director & more
Movers & Shakers: Falcone Group hires HUD’s former deputy chief of staff, Metropica taps biz development director & more
Ron Bergeron with 3310 Northwest 24th Street (Credit: Facebook and Google Maps)
“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
“Alligator Ron” Bergeron sells properties near Miami airport to Prologis
arrow_forward_ios

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

Loading...