The price equates to $121.92 per sf, one of the highest per-sf prices paid for a class B property here this year, area brokers tracking the Tampa Bay office market tell GlobeSt.com. The seller was the Bay Group investor consortium.
GVA Advantis brokers Brad C. Luger, Larry Randolph and Bill Knight negotiated for the seller. The buyer represented itself. Luger tells GlobeSt.com the deal was done at this time by the seller to "take advantage of market conditions." Full-service rent at the class B building averages $16.50 per sf.
The three-story, 9.1-acre property at 5650 Breckenridge Parkway was on the market for only 30 days. The deal took another 45 days to complete, from contract signing to closing. The four tenants in the building are Acosta Sales & Marketing Co., Ryder Integrated Logistics Inc., Comptroller of the Currency and Southern Commerce Bank.
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