{"id":1004647618,"date":"2023-02-24T05:04:39","date_gmt":"2023-02-24T13:04:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004647618"},"modified":"2023-02-24T06:41:46","modified_gmt":"2023-02-24T14:41:46","slug":"siguler-guff-jv-buys-40m-tampa-office-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/","title":{"rendered":"Tampa Office Asset Commands $40M"},"content":{"rendered":"
\"Bridgeport<\/a>

Bridgeport Center. Image courtesy of NAI\/Merin Hunter Codman<\/p><\/div>\n

MHCommercial Real Estate Fund II<\/strong>, in a joint venture with Siguler Guff<\/strong>, has purchased Bridgeport Center, a Class A 180,247-square-foot office property in Tampa, Fla., for $40 million, or $222 per square foot. M & T Bank<\/strong> provided acquisition financing.<\/p>\n

Cushman & Wakefield<\/strong> worked on behalf of the seller, FDG Bridgeport LLC, an entity connected to America\u2019s Capital Partners<\/strong>, according to CommercialEdge. The property previously traded in 2013, for $25 million.<\/p>\n

Bridgeport Center marks the third property acquisition for MHCommercial Real Estate Fund II, bringing its total holdings to $120 million. The fund’s goal for the next 12 to 18 months is to purchase $200 to $300 million worth of real estate assets across the Southeastern U.S.<\/p>\n

\n

READ ALSO:<\/strong> Office Sector Shifts to Continue in 2023<\/a><\/p>\n

\n

MHCommercial Real Estate Fund II\u2019s team of Director of Acquisitions Corey Winsett and COO Matthew Brown managed the acquisition on behalf of the partnership, with the assistance of Shutts<\/strong> &<\/strong> Bowen<\/strong> Partners Elizabeth Jones and John Strickroot. Cushman & Wakefield<\/strong> Executive Vice Chairman Mike Davis, Vice Chairman Rick Brugge, Executive Managing Director Dominic Montazemi and Director Rick Colon negotiated on behalf of the seller.<\/p>\n

A Westshore office property<\/span><\/h2>\n

Completed in 1980 and renovated in 2011, Bridgeport Center is a nine-story office building that features four passenger elevators, 19,806-square-foot floorplates, ground floor retail space and 732 parking spots, CommercialEdge data shows. Anchored by Delta Air Lines, the property\u2019s tenant roster includes AFS Technologies, Harvard Jolly Architecture and Troy University, among others.<\/p>\n

The new ownership has planned significant improvements for Bridgeport Center in order to enhance the tenants’ workplace experience, MHCommercial Real Estate Fund II Principals Jordan Paul and Neil Merin said in prepared remarks. NAI\/Merin Hunter Codman<\/strong> will serve as property manager while CBRE<\/strong> Senior Vice President Barry Hanerfeld will be the exclusive leasing agent.<\/p>\n

Located at 5201 W. Kennedy Blvd. within Tampa\u2019s Westshore submarket, the 4-acre property is close to Interstate 275 and WestShore Plaza, 2.5 miles from Tampa International Airport, 5.5 miles from downtown Tampa and within 19 miles of downtown St. Petersburg, Fla.<\/p>\n

Earlier in 2023, another partnership purchased an office asset in Tampa: Torose Equities and Merrimac Ventures<\/a> paid $31 million for the 350,000-square-foot office building, marking Torose’s first purchase since its launch in late 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bridgeport Center marks the third property acquisition for MHCommercial Real Estate Fund II.<\/p>\n","protected":false},"author":2991,"featured_media":1004647632,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1612],"tags":[34198,32789,32799,47240,38139,33746],"class_list":["post-1004647618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-tampa","tag-americas-capital-partners","tag-cbre","tag-cushman-wakefield","tag-mhcommercial-real-estate-fund","tag-nai-merin-hunter-codman","tag-siguler-guff"],"acf":[],"yoast_head":"\nTampa Office Asset Commands $40M - CPE<\/title>\n<meta name=\"description\" content=\"MHCommercial Real Estate Fund II and Siguler Guff acquired Bridgeport Center, a 180,247-square-foot office property in Tampa, Fla.\" \/>\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\/siguler-guff-jv-buys-40m-tampa-office-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tampa Office Asset Commands $40M\" \/>\n<meta property=\"og:description\" content=\"MHCommercial Real Estate Fund II and Siguler Guff acquired Bridgeport Center, a 180,247-square-foot office property in Tampa, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/\" \/>\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=\"2023-02-24T13:04:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-24T14:41:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1137\" \/>\n\t<meta property=\"og:image:height\" content=\"852\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/\",\"name\":\"Tampa Office Asset Commands $40M - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg\",\"datePublished\":\"2023-02-24T13:04:39+00:00\",\"dateModified\":\"2023-02-24T14:41:46+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"MHCommercial Real Estate Fund II and Siguler Guff acquired Bridgeport Center, a 180,247-square-foot office property in Tampa, Fla.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg\",\"width\":1137,\"height\":852,\"caption\":\"Bridgeport Center. Image courtesy of NAI\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tampa Office Asset Commands $40M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\",\"name\":\"Simona Tudose\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"caption\":\"Simona Tudose\"},\"description\":\"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tampa Office Asset Commands $40M - CPE","description":"MHCommercial Real Estate Fund II and Siguler Guff acquired Bridgeport Center, a 180,247-square-foot office property in Tampa, Fla.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/","og_locale":"en_US","og_type":"article","og_title":"Tampa Office Asset Commands $40M","og_description":"MHCommercial Real Estate Fund II and Siguler Guff acquired Bridgeport Center, a 180,247-square-foot office property in Tampa, Fla.","og_url":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2023-02-24T13:04:39+00:00","article_modified_time":"2023-02-24T14:41:46+00:00","og_image":[{"width":1137,"height":852,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg","type":"image\/jpeg"}],"author":"Simona Tudose","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/","url":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/","name":"Tampa Office Asset Commands $40M - CPE","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg","datePublished":"2023-02-24T13:04:39+00:00","dateModified":"2023-02-24T14:41:46+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4"},"description":"MHCommercial Real Estate Fund II and Siguler Guff acquired Bridgeport Center, a 180,247-square-foot office property in Tampa, Fla.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg","width":1137,"height":852,"caption":"Bridgeport Center. Image courtesy of NAI"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/siguler-guff-jv-buys-40m-tampa-office-building\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Tampa Office Asset Commands $40M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4","name":"Simona Tudose","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","caption":"Simona Tudose"},"description":"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/Bridgeport-Center_ExteriorPhoto-Media-e1677236977878.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004647618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2991"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004647618"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004647618\/revisions"}],"predecessor-version":[{"id":1004647706,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004647618\/revisions\/1004647706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004647632"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004647618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004647618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004647618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}