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

ESJ Capital Partners got $181 per square foot for the office property, located directly across from the University of South Florida campus in Tampa

Miami /
Sep.September 23, 2018 10:00 AM

Arnaud Sitbon, president and CEO of ESJ Capital Partners LLC. (Credit: South Florida Business and Wealth Magazine)

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


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
Derek Jeter and his Tampa mansion (Getty, Smith & Associates Real Estate/Luxury Portfolio International)
Jeter sells waterfront Tampa estate for record $23M
Jeter sells waterfront Tampa estate for record $23M
arrow_forward_ios

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

Loading...