The seller, an Orlando-based private real estate investmentcompany, was represented by Mike Davis, of Cushman & Wakefield,in the transaction. The property was 65% leased at the time of thesale. "We acquired the property because there was a large rolloveranticipated because a tenant was not renewing its lease," BPG vicepresident David Barndt tells GlobeSt.com. "We believe there issignificant lease-up potential with the property."

The park consists of eight buildings located on 15 acresoverlooking Tampa Bay and adjacent to a new public path withrunning paths and panoramic views of the Bay. The park featuresdrive-up parking, individual tenant entrances and an on-sitecafeteria. Angela Odell and Monica Ziff, of Taylor & Mathis,will handle property management and leasing of the property.

The property has easy access to Interstate 275 and State Route60 and immediate access to Tampa International Airport. In 2008, anew Cypress Street exit ramp will be completed off State Route 60immediately across from the entrance to the property. The companyplans to begin a $2-million capital improvement program of theproperty, including upgrading the signage and landscaping,improving the park's amenities and renovating and improving thebuilding's exteriors and interiors.