UPDATED Sept. 24, 2:15 p.m.: An Aventura-based firm ended its eight-year investment in an office complex across from a university campus in Tampa for $18 million.
ESJ Capital Partners LLC sold the 99,154-square-foot University Park office complex directly across from the University of South Florida (USF) and within a mile of four major hospitals. The sale price was $181 per square foot.
“University Park remains very competitive and consequently realized significant value growth over the past eight years,” Matthew Fuller, chief investment officer of ESJ said in a prepared statement.
“The office market underserved the hospital and university demands at the time of acquisition,” he said.
Barrett Wolf of Wolf Co. Real Estate represented the buyer, Sagi Shaked. Lauren Campbell of Hybridge represented the ESJ.
ESJ repositioned the property after acquiring it in 2010 with a focus on consumer medical service. Tenants include USF, Quest Diagnostics and Moffitt Cancer Center.
The Aventura-based firm is a full-service investment management firm with a national portfolio of more than 3 million square feet of commercial, educational, residential and other properties.
ESJ is registered with the Securities and Exchange Commission as an investor advisor that focuses on opportunistic real estate and private equity investments and provides securities brokerage services. – Mike Seemuth