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 and a new café. Additionally, a multitude of restaurants and shops as well as over 5,000 hotel rooms within the Westshore area provide an unrivaled amenity base for tenants.
Westshore Center is currently 84% occupied with notable tenants including Reynold Smith & Hill, United Soccer Leagues and USI.
“Westshore Center is exceptionally well-located in the heart of Westshore, which is not only Florida’s largest office community, but also an increasingly vibrant urban core market,” said Davis. “The combination of the prime location with the Tampa market’s rapidly rising rental rates, surging employment metrics and strong residential growth position this asset as a secure investment with significant upside potential.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida