Cushman & Wakefield Negotiates Single-Tenant Office Sale in St. Petersburg for $5.7M

Cushman & Wakefield Negotiates Single-Tenant Office Sale in St. Petersburg for $5.7M

Wendy Giffin, Rick Brugge, Mike Davis and Michael Lerner Represented BDI Properties in Disposition of 50,000-SF Office Occupied by Davita Medical Group Subsidiary

ST. PETERSBURG, FL, December 27, 2017 – Cushman & Wakefield has negotiated the sale of Gateway Point, a 50,931-square-foot office building in St. Petersburg, for $5.7 million. The property is fully occupied by a single tenant, JSA Healthcare Corp., a subsidiary of DaVita Medical Group.

The Cushman & Wakefield team of Senior Director Wendy Giffin, Executive Director Rick Brugge, Vice Chairman Mike Davis and Executive Director Michael Lerner, represented seller BDI Properties, a private commercial real estate investment group based in Tampa. The buyer is Anderson Ventures, Inc. a St. Petersburg-based real estate company.

Gateway Point is situated on 3.73 acres at 10051 Fifth St. N. in St. Petersburg’s Gateway submarket, which is centrally located within the Tampa-St. Petersburg-Clearwater MSA. The building fronts Gandy Boulevard and provides convenient access to Interstate 275.

DaVita Medical Group is a Fortune 500 company that operates and manages medical groups and affiliated physician networks. Subsidiary JSA Healthcare Corp. uses Gateway Point as its corporate headquarters and has occupied the building for seven years.

Gateway Point was built in 1978 and has recently received several significant capital improvements, including a new roof. Additionally, the tenant recently upgraded the lobby, restrooms and reception area.

“Available sites for new office construction are extremely limited in St. Petersburg’s Gateway submarket,” said Giffin. “The lack of competition from new development paired with a desirable central location give this property high potential for future

rent growth.”

 


Media contact
Tyler Killette
Communications Specialist, Florida
+1 813-204-5341
tyler.killette@cushwake.com

 

By | 2018-05-02T15:53:42+00:00 December 27th, 2017|In the News, Press Release|0 Comments

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