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(Carl Cronan is editor of Real EstateFlorida.)

TAMPA, FL-PharMerica Corp. will relocate its local service center in September to 50,000 sf in the Eastpointe building at Corporex Office Park on the city’s east side. The new lease brings the three-story, 85,000-sf building near the interchange of Interstates 4 and 75, to nearly 90% capacity.

Louisville, KY-based PharMerica currently has its service center at Sabal Park, also in East Tampa. PharMerica is the second-largest institutional pharmacy services company assisting health care facilities nationwide.

Cypress Creek Capital and Perry Real Estate Partners purchased Eastpointe nearly two years ago, under a joint venture called East Tampa LLC. The $50-million deal also included the nearby Lakeview Center building and land for additional offices at Corporex.

Nearly $300,000 has been invested in improvements to Eastpointe, including new lobby finishes and roof coating, according to Sharon Rogers-Barron, Cypress Creek senior vice president. Another $100,000 is being put into new restrooms and other common areas, she says.

“It puts Eastpointe on the map as a top-notch office building in the I-75, East Tampa corridor,” Rogers-Barron tells GlobeSt.com. She says the building is asking full-service rents between $19 and $20 per sf for the remaining 10,200 sf of vacancy.

Cypress Creek, a subsidiary of Woodbridge Holdings Corp., is managing partner of Eastpointe as well as Lakeview Center, which contains 187,500 sf of office space in three stories. CB Richard Ellis handles leasing for both buildings, while Cushman & Wakefield and Cresa Partners represented PharMerica.

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