GVA Advantis associate of leasing services Josh Tarkownegotiated the lease on behalf of the tenant. "After carefulconsideration and an extensive search, the client and I determinedthat renewing its lease at Eisenhower Technology Park was the bestcourse of action," Tarkow says.


The landlord, ARA Properties No. 1 Ltd. c/o Peter LawrenceCommercial Real Estate Inc., is a Florida limited partnership basedin Tampa and was represented by Cushman & Wakefield of Florida,Inc.


The 200,000-sf Eisenhower Technology Park is located in theWestshore/Airport submarket located across from Tampa InternationalAirport. It is comprised of six flex buildings constructed between1975 and 1978.


Tampa Bay Press' decision to renew its lease may have beenprompted by the tight conditions that currently exist in the TampaBay industrial market. According to a CB Richard Ellis marketreport for Q3, the vacancy rate was 3.7% with 1.18 million sf ofabsorption during the quarter. Average asking rental rates were$7.28 per sf. "The Tampa Bay industrial market remained healthythis quarter," the report states. "Continued demand has pushed thealready historically low vacancy rates even lower, while askingrates continued to rise."

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