{"id":1004148084,"date":"2016-07-15T04:05:35","date_gmt":"2016-07-15T12:05:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148084"},"modified":"2022-03-03T21:23:01","modified_gmt":"2022-03-04T05:23:01","slug":"cushwake-lends-a-hand-with-tampa-office-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cushwake-lends-a-hand-with-tampa-office-sale\/","title":{"rendered":"Cush&amp;Wake Lends a Hand with Tampa Office Sale"},"content":{"rendered":"<p><em>By Robert Demeter<\/em><\/p>\n<div id=\"attachment_1004148087\" style=\"width: 259px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/6783.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004148087\" data-attachment-id=\"1004148087\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cushwake-lends-a-hand-with-tampa-office-sale\/attachment\/6783\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/6783.jpg\" data-orig-size=\"640,512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Riverside at Telecom Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Riverside at Telecom Park&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/6783.jpg?w=640\" class=\"wp-image-1004148087\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/6783.jpg\" alt=\"Riverside at Telecom Park\" width=\"249\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/6783.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/6783.jpg?resize=300,240 300w\" sizes=\"auto, (max-width: 249px) 100vw, 249px\" \/><\/a><p id=\"caption-attachment-1004148087\" class=\"wp-caption-text\"><em>Riverside at Telecom Park<\/em><\/p><\/div>\n<p><strong>Tampa<\/strong>\u2014<a href=\"https:\/\/www.cushmanwakefield.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Cushman &amp; Wakefield<\/a>\u00a0has negotiated the sale of <a href=\"https:\/\/riversideattelecompark.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Riverside at Telecom Park<\/a>, a 167,744-square-foot Class A office building in suburban <a href=\"https:\/\/www.commercialsearch.com\/news\/tampa\/\" target=\"_blank\" rel=\"noopener\">Tampa<\/a>.<\/p>\n<p>St. Petersburg-based investor <a href=\"https:\/\/www.cardinalpointmanagement.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Cardinal Point Management<\/a> purchased the asset for $27.4 million from Philadelphia-based <a href=\"https:\/\/www.equuspartners.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Equus Capital Partners<\/a>. The capital markets team consisting of Senior Managing Director Paul Carr and Vice President Rick Colon represented the seller in the disposition. At the time of sale, Riverside at Telecom Park was 100 percent leased to six high-quality tenants. <a href=\"https:\/\/www.colliers.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Colliers International<\/a> is the leasing manager of the building, according to <a href=\"https:\/\/www.yardimatrix.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Yardi Matrix<\/a>.<\/p>\n<p>The 5-story building features a distinctive architectural design with granite and glass exterior, and a five-story atrium and center core design with flexible 35,000-square-foot floor plates, 2,300 square feet of retail on the first floor and 715 parking spaces. The building was institutionally maintained by the previous owner, who had invested more than $2 million in capital improvements.<\/p>\n<p>The asset is situated on 16.79 acres at 12470 Telecom Drive in Tampa Telecom Park, one of the premier corporate business parks in Hillsborough County, with nearly 2 million square feet of mixed-use development and limited remaining land for new construction.<\/p>\n<p>\u201cRiverside at Telecom Park offered investors the opportunity to acquire a fully leased, Class A office asset in a desirable mixed-use business park,\u201d said Carr. \u201cThe acquisition also presented an upside and value-add component with below-market rents in place and a well-balanced lease rollover schedule.\u201d<\/p>\n<p>Last month, Cushman &amp; Wakefield\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-brokers-32m-sale-of-187-ksf-office-campus-in-tampa-business-district\/\" target=\"_blank\" rel=\"noopener\">brokered a $32 million office sale<\/a> in\u00a0Tampa\u2019s Westshore business district and, most recently,\u00a0signed\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/cushman-wakefield-signs-7-leases-at-bayview-corporate\/\" target=\"_blank\" rel=\"noopener\">7 new leases at BayView Corporate<\/a>, a\u00a012-story office\u00a0building in Ft. Lauderdale.<\/p>\n<p><em>Image\u00a0courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the time of the sale, the Class A office building was 100 percent leased to six high-quality tenants.<\/p>\n","protected":false},"author":59,"featured_media":1004148087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,21742,21747,1612],"tags":[],"class_list":["post-1004148084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-latest","category-office","category-tampa"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Cush&amp;Wake Lends a Hand with Tampa Office Sale - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cushwake-lends-a-hand-with-tampa-office-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cush&amp;Wake Lends a Hand with Tampa Office Sale\" \/>\n<meta property=\"og:description\" content=\"At the time of the sale, the Class A office building was 100 percent leased to six high-quality tenants.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cushwake-lends-a-hand-with-tampa-office-sale\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-15T12:05:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-04T05:23:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/6783.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Robert Demeter\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushwake-lends-a-hand-with-tampa-office-sale\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushwake-lends-a-hand-with-tampa-office-sale\\\/\"},\"author\":{\"name\":\"Robert Demeter\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b890baecdbd25af52e3a730ac8cff6f\"},\"headline\":\"Cush&amp;Wake Lends a Hand with Tampa Office Sale\",\"datePublished\":\"2016-07-15T12:05:35+00:00\",\"dateModified\":\"2022-03-04T05:23:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushwake-lends-a-hand-with-tampa-office-sale\\\/\"},\"wordCount\":288,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushwake-lends-a-hand-with-tampa-office-sale\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2016\\\/07\\\/6783.jpg\",\"articleSection\":[\"Deals\",\"Finance\",\"Investment\",\"News\",\"Office\",\"Tampa\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushwake-lends-a-hand-with-tampa-office-sale\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushwake-lends-a-hand-with-tampa-office-sale\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/cushwake-lends-a-hand-with-tampa-office-sale\\\/\",\"name\":\"Cush&amp;Wake Lends a Hand with Tampa Office Sale - 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