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|

Two Cushman & Wakefield-Managed Properties Receive BOMA Southern Region TOBY Awards

The Winning Properties, Memorial Center I & II and Tampa City Center, Will Now Compete at the International Level TAMPA, FL, April 17, 2019 – The Building Owners and Managers Association (BOMA) has awarded Cushman & Wakefield’s Tampa Asset Services team with two TOBY Awards for the Southern Region. Memorial Center I & II and Tampa City Center, both Cushman & Wakefield-managed properties, won the TOBY in their respective categories at the regional level. The TOBY program, which stands for The Outstanding Building of the Year, is the most prestigious and comprehensive program of its kind in the commercial real estate industry, recognizing quality in buildings and rewarding excellence in building management. Memorial Center I & II, at 4919 and 4921 Memorial Highway, won the TOBY in the “Suburban Office Park - Low Rise” category. Key members of the Property Management Team include Property Manager Katlin White, Assistant Property Manager Candace Richardson [...]

By |2019-05-16T12:22:15-04:00April 17th, 2019|In the News, Press Release|

Cushman & Wakefield Represents Venterra in Sale of Calais Park Lofts Apartments

29th Street Capital Acquires the 261-Unit, Value-Add Community ST. PETERSBURG, FL, February 15, 2019 — Cushman & Wakefield has negotiated the sale of Calais Park Lofts Apartments, a 261-unit multifamily community in Pinellas County. Luis Elorza, Brad Capas, Robert Given and Michael Mulkern of Cushman & Wakefield’s Florida Multifamily Group represented Toronto-based Venterra in the disposition. San Francisco- and Chicago-based 29th Street Capital acquired the property. Calais Park is a 38-building, 317,376-square-foot community developed in 2003 on a ±17.6-acre site at 5800 Calais Lane in St. Petersburg. The two-story, garden-style property features a unique “Big House” design with one-, two- and three-bedroom floor plans with an average size of 1,216 square feet and an average market rent of $1,588 ($1.31 per square foot). The asset was 98% leased at the time of sale. Venterra completed a $1.5 million capital improvement during its ownership period that added upgraded appliances, new goose-neck plumbing fixtures, resurfaced birch kitchen cabinets, new ceiling fans, new lighting fixtures, new 2” blinds and [...]

By |2019-02-21T14:33:03-04:00February 15th, 2019|In the News, Press Release|

‌Cushman & Wakefield Negotiates $48.4M Sale of South Carolina Assisted Living Portfolio​

Paul Carr, David Kliewer and Allen McMurtry Represented Graycliff Capital Senior Housing, LLC in the Sale of Three Assisted Living and Memory Care Facilities in the Upstate Region GREENVILLE, SC, February 8, 2019 — Cushman & Wakefield has negotiated the sale of three assisted living and memory care communities totaling 198 units in the Greenville, SC, metro area. The Tampa, FL-based Cushman & Wakefield Senior Housing team of Paul Carr, David Kliewer and Allen McMurtry represented Greenville-based Graycliff Capital Senior Housing, LLC in the disposition. Birmingham, AL-based Atlas Senior Living acquired the properties for $48.4 million ($244,444 per unit). The portfolio includes three assisted living and memory care facilities in South Carolina’s Upstate region — Spring Park, constructed in 2014 at 925 North Main Street in Travelers Rest; Fairview Park, developed in 2015 at 544 Harrison Bridge Road in Simpsonville; and Oakview Park, built in 2016 at 110 Hood Road in Powdersville. “Graycliff strategically developed this portfolio within the Greenville market to avoid overlap, capture economies of scale and allow [...]

By |2019-02-21T15:11:17-04:00February 8th, 2019|In the News|

Cushman & Wakefield Negotiates $50M Sale of Lakeland Multifamily Community​

Blue Roc Premier Obtained Victoria Landing from Mercury Investment and Has Rebranded the Property as The Park at Palazzo LAKELAND, FL, February 5, 2019 — Cushman & Wakefield has negotiated the sale of Victoria Landing, a 352-unit multifamily community in Central Florida. Brad Capas, Luis Elorza and Robert Given of Cushman & Wakefield’s Florida Multifamily Group represented Duluth, MN-based Mercury Investment in the disposition. Tampa-based property management company Blue Roc Premier obtained the property for $50 million ($142,045 per unit) and has rebranded it as The Park at Palazzo. The Park at Palazzo is a 12-building, 383,212-square-foot community developed in 2007 on ±24.0-acre site at 3685 Victoria Manor Drive. The property features one-, two- and three-bedroom floor plans with an average size of 1,089 square feet and an average market rent of $1,376 ($1.51 per square foot). The garden-style asset was 98% leased at the time of sale. Units at The Park at Palazzo feature walk-in closets; full-size washers and dryers; security alarms; nine-foot ceilings; [...]

By |2019-02-11T15:16:36-04:00February 5th, 2019|In the News, Press Release|