Cushman & Wakefield of Florida Inc. broker Bruce Erhardt, a senior director in the brokerage's Tampa office, tells GlobeSt.com the deal was done at this time because of the "market driven" economy. The land was on the market for five years. Synergy Co. represented the buyer. Erhardt negotiated for the seller.
The property is zoned as a planned development mixed-use community that is approved for office, retail, multifamily and hotel components. Erhardt says a ground-breaking date hasn't been set for the expected multimillion-dollar project, about 80 miles west of Downtown Orlando.
In other closed deals, C&W brokers Mike Davis and Rian Smith negotiated a $4.67-million sale of a 160,000-sf warehouse and distribution center at 5811-6011 53rd St. in east Tampa to Gulf Coast Spa Manufacturers Inc. Seller Southeast Cos. received $29.19 per sf for the property.
The Orlando office of C&W negotiated the $13.1-million sale of the 134,389-sf Lake Point Business Center at 6200-6360 Hazeltine National Dr. to Cloverleaf Realty Partners LLC. Seller Glenborough Fund V LP c/o Glenborough Realty Trust Inc. received $97.48 per sf for the asset. Mike Davis of C&W's Tampa office and Rick Solik and Susan Ruby of the firm's Orlando division negotiated for the seller. The buyer represented itself.
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