Thank you for sharing!

Your article was successfully shared with the contacts you provided.

TAMPA, FL-Although a year from completion, the three-story, 99,094-sf spec-built Highland Oaks III office building in the Interstate 75 corridor has attracted its first tenant. Locally based Quality Distribution Inc. will take 52,776 sf when the building opens in summer 2006. The developer is Duke Realty LP.

Cushman & Wakefield brokers, who represented the tenant, declined to disclose the length and value of the lease. However, area brokers familiar with the property, which is in an 88-acre park across the street from Sabal Park, tell GlobeSt.com the lease was probably for five years at an estimated aggregate rent of $5.28 million. The average asking gross rent range at Highland Oaks III is $22 per sf.

The leasing transaction took 20 months to complete, from contract signing to closing. Quality Distribution currently leases 55,000 sf in the Eastpointe submarket. The tenant was looking at other sites before selecting Highland Oaks III, according to Cushman & Wakefield brokers Jim Paladino and John Fish.

In an unrelated transaction, Cushman & Wakefield brokers Bruce Erhardt and Mike Davis negotiated a $1.2-million land acquisition for Tampa-based 585 Partnership Ltd. Star Distribution Systems Inc. of Tampa paid $65,000 per acre or $1.49 per sf for an 18.8-acre tract in Lot 1, Phase L, Plant City Commerce Center. The land, in the southwest quadrant of US 92 and County Line Road in Plant City, FL is zoned for light industrial use.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.