Office Park in Tampa Changes Hands
An affiliate of Chrysalis Health has acquired Gulf South Center, a 98,000-square-foot, six-building asset in Tampa, Fla. The new owner plans to upgrade the property.
Gulf South Center
Foundry Commercial represented Chrysalis Health in the $4.2 million acquisition of Gulf South Center in late December of last year. The multi-tenant property was purchased from American Realty Investors, represented by CBRE. Per Hillsborough county records, the new owner took out a $3.1 loan from Banco Do Brasil Americas to complete the deal. Chrysalis intends to occupy one of the buildings to serve as their Tampa regional office.
“Chrysalis Health was looking for new office space to relocate their nearby offices and Gulf South Center provided them the opportunity to both expand their space and own and control the entire office park,” said Matt Watson, vice president at CBRE, in prepared remarks. “The new owner plans to also focus on leasing the remaining vacant space, by upgrading the park to make it more competitive in the Carrollwood market.”
The six-building office park is located at 7819-7828 N. Dale Mabry Highway and was built in 1986. At the time of the sale, the property was 71 percent occupied by 30 tenants, including the State of Florida, a law firm and other service providers. Gulf South Center is located close to Tampa’s Carrollwood and Westshore submarkets.
A few months back, CBRE represented Banyan Street Capital in negotiating The Mosaic Co.’s relocation to Bank of America Plaza in Tampa.
Image via Google Street View
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