60,000 SF, Single-Story Office Building is 100 Percent Leased to UnitedHealth Group on a Triple-Net Basis; Buyer is Christian Tyler Properties
TAMPA, FL, January 9, 2017 – Cushman & Wakefield has negotiated the sale a 60,000-square-foot office building leased fully to UnitedHealth Group in East Tampa for $10.5 million. The tenant, which ranks in Fortune 500’s top 10 companies, uses the space a corporate call center.
The Cushman & Wakefield Capital Markets team of Executive Director Rick Brugge, Vice Chairman Mike Davis and Executive Director Michael Lerner represented seller 10210 Windhorst Blvd LLC, a private investment partnership. The buyer, Tampa-based Christian Tyler Properties, is a privately held, full-service real estate development, acquisition, investment and management company with assets throughout the Southeast.
The property is located at 10210 Windhorst Blvd. in Pinebrooke Commerce Center, a premier mixed-use park in east Hillsborough County, near Tampa’s Brandon submarket. It is convenient to Interstate 75 and Interstate 4, as well as an array of dining, retail, entertainment and housing options.
10210 Windhorst Blvd. offers a parking ratio of 10 spaces per 1,000 rentable square feet, which is matched by only one other office building larger than 50,000 square feet in the Tampa Bay area. The building sits on 8.2 acres with the ability to expand by up to 39,000 square feet, while still maintaining an above-average parking ratio.
Built in 2002, the property has been 100 percent occupied since its completion. It offers Class A amenities including a cafe, a fitness center with locker rooms and showers, and a raised-floor IT room with a powerful fire suppression system. UnitedHealth currently has 450 employee work stations in the space.
“Because of its unparalleled parking ratio, central location and Class A amenities, this property is ideally suited to meet the office requirements of corporate America,” said Brugge. “With a stable tenant in place and room to expand, this asset has strong potential for return, which resulted in significant interest from investors.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Communications Specialist, Florida