Rick Brugge, Mike Davis and Michael Lerner Represented RR Tampa, LCC and Site Harvest, LCC in the Disposition of the Premier Tampa Mixed-Use Development
Cushman & Wakefield announced today that is has negotiated the sale of TriPointe Plaza, a premier 71,660-square-foot, mixed-use development in Tampa’s Westshore submarket.
The Capital Markets brokerage team of Senior Director Rick Brugge, Executive Director Mike Davis and Senior Director Michael Lerner represented the sellers, RR Tampa, LLC and Site Harvest, LLC, along with fellow Cushman and Wakefield team members, Senior Director Patrick Berman, Managing Director Jason Donald and Senior Director Paula Buffa.
Tampa-based Cardinal Point Management, LLC acquired the asset for $27. 3 million ($444 per square foot).
TriPointe Plaza comprises a four-story, Class A suburban office building; a structured parking garage with in-line retail space on the ground floor; and a freestanding Eddie V’s Prime Seafood & Steaks restaurant. TriPointe Plaza also offers the unique opportunity to add a rooftop restaurant with dedicated elevator access and panoramic views of Tampa Bay, Westshore and Downtown Tampa.
TriPointe Plaza is strategically located at 4410 and 4448 West Boy Scout Boulevard in the heart of Tampa’s Westshore district. The site is immediately south of International Plaza Mall and Tampa International Airport with frontage and prime visibility on Boy Scout Boulevard, one of Tampa’s most upscale thoroughfares.
TriPointe Plaza was 95.7 percent leased at the time of sale. Notable tenants include Synovus Bank, BNY Mellon, Sharp, TD Ameritrade and Darden Restaurants. The building was 2014 BOMA Office Building of the Year.
“TriPointe Plaza is arguably the most coveted, boutique mixed-use development in all of Tampa due to its high quality and strategic location,” said Brugge. “We saw tremendous investor interest in the asset driven by its prominent location, credit tenancy, superior quality and high occupancy. Additionally, the property offered the opportunity to add a high-end rooftop restaurant on site. Because of its unique characteristics, TriPointe Plaza closed at one of the highest per-square-foot prices of any Tampa Bay asset."
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com
