TAMPA, FL—It's the largest lease in Sarasota this year. Jackson Hewitt just inked a 33,645-square-foot lease renewal at Gateway Professional Center building D in Sarasota, FL.
Ken Lane, managing director and principal of Avison Young's Tampa office, and Patrick R. Eichner, senior vice president in the firm's New Jersey office, represented the tenant. The building is located at 501 North Cattleman Road.
“Leasing activity in Sarasota remains progressive this year, mirroring corporate optimism and confidence of business in the area,” says Lane. “The Jackson Hewitt lease renewal is consistent with the trend of professional service firms leading the transaction activity along the Florida Gulf Coast, indicating that the economy is trending in a positive direction.”
Gateway Professional Center is a four-building office park that sits at the Fruitville Road exit along the Interstate 75 corridor. This is Sarasota's highest traffic east-west road, giving tenants quick access to major roads, restaurants, retail, and hotels in the area.
“We are seeing rental rates climb at a steady pace, not too far below prices for comparable buildings in the Tampa office market,” says. Lane. “As such, tenants with current leases at quality buildings are finding it worthwhile to renew.”
Lane also recently completed the largest office lease to-date in 2014 in Tampa. The Tampa deal was a 62,114-square-foot transaction retaining JP Morgan Chase at Memorial Center during which he represented the landlord.
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