{"id":1004148266,"date":"2016-07-20T06:47:43","date_gmt":"2016-07-20T14:47:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004148266"},"modified":"2022-12-08T09:47:49","modified_gmt":"2022-12-08T17:47:49","slug":"cushwake-secures-suburban-tampa-office-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cushwake-secures-suburban-tampa-office-sale\/","title":{"rendered":"CushWake Secures Suburban Tampa Office Sale"},"content":{"rendered":"<p><em>By Ioana Neamt<\/em><\/p>\n<div id=\"attachment_1004148267\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/riverside-at-telecom-park-photo.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004148267\" data-attachment-id=\"1004148267\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cushwake-secures-suburban-tampa-office-sale\/riverside-at-telecom-park-photo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/riverside-at-telecom-park-photo.jpg\" data-orig-size=\"800,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;13&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark III&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1398715044&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;1&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"riverside-at-telecom-park-photo\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/riverside-at-telecom-park-photo.jpg?w=800\" class=\"wp-image-1004148267 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/riverside-at-telecom-park-photo.jpg\" alt=\"Riverside at Telecom Park, Tampa, Fla.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/riverside-at-telecom-park-photo.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/riverside-at-telecom-park-photo.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/07\/riverside-at-telecom-park-photo.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004148267\" class=\"wp-caption-text\">Riverside at Telecom Park, Tampa, Fla.<\/p><\/div>\n<p><strong>Tampa, Fla.<\/strong>\u2014<a href=\"https:\/\/www.cushmanwakefield.com\/\" target=\"_blank\" rel=\"noopener\">Cushman &amp; Wakefield<\/a> has negotiated the $27.4 million sale of a 167,744-square-foot office building in suburban Tampa. Philadelphia-based <a href=\"https:\/\/www.equuspartners.com\/\" target=\"_blank\" rel=\"noopener\">Equus Capital Partners<\/a> sold the Class A Riverside at Telecom Park to <a href=\"https:\/\/www.cardinalpointmanagement.com\/\" target=\"_blank\" rel=\"noopener\">Cardinal Point Management<\/a> of St. Petersburg, Fla. Senior Managing Director Paul Carr and Vice President Rick Colon of Cushman &amp; Wakefield represented the seller in the disposition.<\/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 in a statement. \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>The <a href=\"https:\/\/www.commercialsearch.com\/news\/office\/\" target=\"_blank\" rel=\"noopener\">office building<\/a>\u00a0was fully occupied at the time of sale by six tenants. The previous owner had recently invested more than $2 million in capital improvements to the structure, which features a granite and glass exterior, five-story atrium and center core design with flexible floor plates. The building is located on 16.8 acres within the Tampa Telecom Park\u2014one of the premier corporate business parks in Hillsborough County.<\/p>\n<p>\u201cStrong leasing activity and increased absorption, especially in the non-CBD submarkets, has kept vacancy low and pushed rents further up,\u201d Florida Research Manager Chris Owen wrote in Cushman &amp; Wakefield\u2019s latest Tampa market report. \u201cCushman &amp; Wakefield anticipates local economic expansion and job growth to positively impact and fuel additional gains in Tampa\u2019s office market throughout the rest of 2016.\u201d<\/p>\n<p><em>Image courtesy of Cushman &amp; Wakefield<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Class A office building located within the Tampa Telecom Park fetched $27.4 million.<\/p>\n","protected":false},"author":192,"featured_media":1004148267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21742,21747,1612],"tags":[],"class_list":["post-1004148266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","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) - 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