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Cushman & Wakefield Arranges $69M Sale of Tampa Distribution Center on Behalf of High Street

Link Industrial Properties Acquired the 955,000-Square-Foot, Core-Plus Industrial Asset TAMPA, FL, July 11, 2019 – Cushman & Wakefield has negotiated the sale of Tampa Distribution Center, a Class A industrial facility in Tampa’s premier Eastside submarket. The six-building, 955,000-square-foot asset sold for $69.25 million. The Cushman & Wakefield Investment Sales Team of Vice Chairman Mike Davis, Executive Managing Director Rick Brugge and Director Rick Colon represented High Street Realty Company, a Boston-based private equity real estate investment company, in the disposition. The buyer is Link Industrial Properties, Blackstone’s U.S. industrial real estate operating platform. At 1212 N. 50th St., Tampa Distribution Center has an in-fill location at the center of the Tampa Bay metropolitan area. The property is located just off the Selmon Expressway, and is easily accessible from several major transportation arteries, inlcuding Port of Tampa, Interstate 4, Interstate 75 and Tampa International Airport. It is also four miles [...]

By |2019-07-19T11:35:57-04:00July 11th, 2019|In the News, Press Release|

‌Cushman & Wakefield Arranges $35M Sale of Wildewood Downs​

David Kliewer, Paul Carr and Allen McMurtry Represented an Affiliate of The Hollinger Group in the Sale of the Retirement Community in Columbia, South Carolina COLUMBIA, SC, June 28, 2019 — Cushman & Wakefield has negotiated the sale of Wildewood Downs, a 248-unit, entrance-fee continuing care retirement community in Columbia, South Carolina. The Tampa, Florida-based Cushman & Wakefield Senior Housing team of David Kliewer, Paul Carr and Allen McMurtry represented an affiliate of Mechanicsburg, Pennsylvania-based The Hollinger Group in the disposition. Senior Living Communities (SLC), of Charlotte, North Carolina, acquired the asset for $35 million ($141,129 per unit) using debt financing from a publicly-traded REIT. Wildewood Downs was developed between 2000 and 2014 at 731 Polo Rd. The ±348,728-square-foot property comprises 76 Independent Living homes, 60 Independent Living apartments, 40 Assisted Living units, eight Memory Care units, a 64-bed Skilled Nursing Facility with an 80-bed licensed capacity, and a two-story commons building with extensive amenities. In 2017, previous ownership invested approximately $400,000 to update [...]

By |2019-07-19T12:04:36-04:00June 28th, 2019|In the News, Press Release|

Cushman & Wakefield Negotiates 238,437-SF Industrial Lease Renewal in Tampa on Behalf of UBS Asset Management

The Lease at East Meadow Distribution Center Marks the Largest Lease of the Past 12 Months for the Tampa Market; Tenant is ITG Brands TAMPA, FL, June 27, 2019 — Cushman & Wakefield has arranged a 238,437-square-foot lease renewal at Tampa’s East Meadow Distribution Center on behalf of the owner, an investor account advised by UBS Asset Management, Real Estate & Private Markets, Real Estate US. The tenant is ITG Brands, the third-largest tobacco company in the United States. According to Cushman & Wakefield data, the long-term renewal marks the largest industrial lease for the Tampa Bay market in the past 12 months. Cushman & Wakefield Senior Director Josh Tarkow, SIOR, represented UBSA in the lease negotiations and serves as the exclusive leasing advisor for the facility. Newmark Knight Frank’s John Esposito and Rick Narkiewicz, SIOR, represented ITG Brands. East Meadow Distribution Center is located at 2601 Tampa E. Blvd. [...]

By |2019-07-19T11:45:54-04:00June 27th, 2019|In the News, Press Release|

Cushman & Wakefield Brings New Waterfront Apartment Community to Market in Clearwater, FL

Columbus, GA-based Flournoy Companies Completed the 339-Unit Vue at Belleair Earlier This Year TAMPA, FL, June 21, 2019 — Cushman & Wakefield, as the exclusive advisor, has launched the marketing campaign for a luxury, waterfront multifamily community in Clearwater, Florida on behalf of the owner and developer, Flournoy Companies. Called Vue at Belleair, the 339-unit, garden-style property was completed in 2019 and is nearing the end of lease-up. Executive Director Luis Elorza, Executive Director Brad Capas, Vice Chairman Robert Given and Senior Financial Analyst Michael Mulkern, of Cushman & Wakefield’s Florida Multifamily Investment Sales Team,  are leading the marketing efforts for the asset. Vue at Belleair consists of six four-story elevator buildings and five two-story carriage buildings on 15.6 acres. The Class A apartment community offers one-, two- and three-bedroom units, averaging 948 square feet. The residences are designed with the highest standards, featuring 9-, 10- and 11-foot ceilings, designer [...]

By |2019-07-19T11:42:09-04:00June 21st, 2019|In the News, Press Release|

Cushman & Wakefield Arranges Sale of Westshore Center in Tampa​

The Capital Markets Team of Mike Davis, Rick Brugge and Rick Colon Negotiated the Sale on Behalf of The Roseview Group TAMPA, FL, June 19, 2019 — Cushman & Wakefield has negotiated the sale of Westshore Center, a 217,022-square-foot, Class A office building in the heart of Tampa’s Westshore Business District. The Cushman & Wakefield Investment Sales Team of Vice Chairman Mike Davis, Executive Managing Director Rick Brugge and Director Rick Colon represented the seller, Roseview-PMRG Fund I, a discretionary fund managed by Boston-based Roseview Investment Advisors. America’s Capital Partnersacquired the property. Westshore Center is situated at 1715 N. Westshore Blvd., at the intersection of Westshore and Boy Scout Boulevards. The main-and-main location is just south of the International Plaza mall and Tampa International Airport with convenient access to downtown via Interstate 275. The nine-story building was developed in 1984 and has undergone $2.5 million in capital improvements over the last several years. The updates include modernized elevators, upgraded common areas [...]

By |2019-06-19T12:43:59-04:00June 19th, 2019|In the News, Press Release|

Cushman & Wakefield’s Mele Team Arranges Sale of 718-Unit Self-Storage Facility in Philadelphia

A Private Investor Acquired the Value-Add Asset and Retained CubeSmart as Third-Party Manager PHILADELPHIA, PA, June 10, 2019 — Cushman & Wakefield has negotiated the sale of a 718-unit self-storage facility in Clifton Heights, Pennsylvania, a Philadelphia suburb. The newly converted, state-of-the-art facility is situated in a dense retail corridor on 5.41 acres at 500 Mildred Ave. The Cushman & Wakefield Self-Storage Team of Vice Chairman Mike Mele, Senior Director Robert Bloch and Senior Associate Noah Obuchowski negotiated the disposition on behalf of an affiliate of Vertical Fields Capital, LLC. The buyer is a private investor and CubeSmart Self Storage has been retained as third-party manager. The sales price is undisclosed. The property comprises 82,116 rentable square feet with 590 climate-controlled units and 128 non-climate-controlled units. Units range from 18 to 320 square feet. Features include premium security with gated entry and 24-hour video surveillance, as well as on-site management. The facility offers multiple entry points from Mildred Avenue and [...]

By |2019-06-14T10:50:24-04:00June 10th, 2019|In the News, Press Release|

Cushman & Wakefield Arranges $26.25M Sale of Bay Oaks Apartments​

The Related Group Acquired the 176-Unit Multifamily Community on Bayshore Boulevard in South Tampa TAMPA, FL, June 7, 2019 — Cushman & Wakefield has negotiated the sale of Bay Oaks, a 176-unit multifamily community in Tampa’s Bayshore submarket. Luis Elorza, Brad Capas, Robert Given and Michael Mulkern of Cushman & Wakefield’s Florida Multifamily Group represented Nashville-based Carter-Haston in the sale. The Related Group, located in Miami, acquired the property for $26.25 million ($149,148 per unit). Chris Lentz and Robert Kaplan of Cushman & Wakefield’s Equity, Debt & Structured Finance Team placed agency debt financing on behalf of The Related Group with Barings Multifamily Capital. Bay Oaks is a garden-style property with a mix of one- and two-bedroom units. The community was 97.2% leased at the time of sale. Units at Bay Oaks offer a private balcony/patio, wood-style flooring, premium appliances, air conditioning and walk-in closets. Select units have stunning waterfront views of Hillsborough Bay. The community features 24-hour fitness center, resort-inspired swimming pool, community grilling stations, a luxurious clubhouse, [...]

By |2019-06-14T10:39:59-04:00June 7th, 2019|In the News, Press Release|

Cushman & Wakefield Awarded Leasing Assignment on Office Project in Pasco County, FL

The Edison Suncoast Consists of Two Loft-Style Office Buildings Totaling 155,000 SF in the Tampa Bay Area’s Growing 54 Corridor TAMPA, May 28, 2019 – Cushman & Wakefield has been named the exclusive leasing agent for a 155,000-square-foot office project in Tampa’s booming 54 Corridor submarket called The Edison Suncoast. The project will consist of two modern, loft-style buildings, which are being developed on a speculative basis. The developer, TPA Group, has retained the Cushman & Wakefield team of Executive Managing Director Jimmy Garvey and Senior Director Barry Oaks to handle leasing for the project. TPA Group is also currently developing a similar project called Heights Union in Tampa Heights, just north of downtown Tampa. That project is already more than 50 percent leased. The Edison Suncoast will consist of two 77,500-square-foot buildings with three stories each. The buildings will feature an efficient, offset core design that keeps floorplates open [...]

By |2019-06-14T12:08:16-04:00May 28th, 2019|In the News, Press Release|

Cushman & Wakefield Negotiates Sale of Concourse Center​

A Fund Managed by DRA Advisors LLC sold the Four-Building Office Campus to The Dilweg Companies TAMPA, FL, May 7, 2019 — Cushman & Wakefield has arranged the sale of Concourse Center, a four-building, 294,621-square-foot office park in Tampa’s Westshore Business District. The Cushman & Wakefield Capital Markets team of Mike Davis, Rick Brugge and Rick Colon negotiated the sale on behalf of a fund managed by New York-based DRA Advisors LLC. The Dilweg Companies, of Durham, NC, acquired the buildings. Concourse Center is a value-add office park comprising four, three-story buildings ranging in size from 73,180 to 74,533 square feet. The assets were developed between 1982 and 1984 on a ±12.48-acre campus at 3501, 3503, 3505 and 3507 East Frontage Road. Buildings at Concourse Center reside in a park-like setting offering fountain views and ample green space. The property features on-site management, high-speed fiber access and a café. The assets are supported by two structured parking garages and surface parking. Concourse Center is located [...]

By |2019-05-16T12:21:51-04:00May 16th, 2019|In the News, Press Release|

Cushman & Wakefield Arranges $20.35M Sale of South Texas Senior Living Campus

Allen McMurtry, Paul Carr and David Kliewer Represented an Affiliate of Senior Quality Lifestyles Corporation in the Sale of Mirador in Corpus Christi CORPUS CHRISTI, TX, May 16 2019 — Cushman & Wakefield has negotiated the sale of Mirador, an upscale, 228-unit continuing care retirement community in South Texas. The Tampa, Florida-based Cushman & Wakefield Senior Housing team of Allen McMurtry, Paul Carr and David Kliewer represented an affiliate of Addison, Texas-based Senior Quality Lifestyles Corporation (SQLC) in the disposition. An affiliate of Methodist Retirement Communities (MRC), based in The Woodlands, Texas, acquired the asset for $20.35 million ($89,254 per unit). Mirador was developed in 2011 and comprises three interconnected buildings totaling ±271,455 square feet of living, dining and common space. The Class A facility offers a full continuum of care ranging from independent living, assisted living, memory care and skilled nursing. Mirador houses 125 independent living apartments, 44 assisted living units, 18 memory care units and 41 skilled nursing units. The [...]

By |2019-05-16T12:19:41-04:00May 16th, 2019|In the News, Press Release|