Denholtz Associates, a privately held, fully integrated real estate development, investment and management company, has announced that they have sold 5.1 acres of land at 109 West Fortune Street in downtown Tampa, Fla. to Crescent Communities. Soon to be named the Crescent Riverwalk, the apartments slated for development on the lot will become a valuable addition to the quickly growing Tampa Riverwalk area. The Eschenbach Land Company brokered the sale.
Crescent Communities plans to build a five-story apartment building with upscale one, two and three bedroom options on this land with an attached parking structure.
Tampa and its environs have seen exponential residential and commercial growth in recent years becoming one of Florida’s most exciting destinations. Conveniently located off I-275 and less than 10 miles from Tampa International Airport, 109 West Fortune boasts an incredibly accessible location that is also within walking distance of all the Downtown Tampa entertainment, retail and dining options. Crescent Riverwalk is positioned to be an in-demand location for all current or future residents of the city.
“Upon our acquisition of the Tampa Bay Times Building, we evaluated our options for the 5.1 acres of land for future development, build to suit or sale,” said Steven Denholtz, CEO of Denholtz Associates. “Crescent Communities emerged as a serious contender for the property and we were able to put together a deal that worked for all parties involved while adding value to the surrounding community which needs new housing options given St. Petersburg and Tampa’s surging office market.”
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About Denholtz Associates
Denholtz Associates is a privately held, fully integrated real estate development, investment and management company with more than 60 years of commercial real estate experience. Denholtz Associates actively targets multi-tenant office and industrial properties in select markets to diversify risk and provide maximum returns for its capital partners. Specializing in adaptive reuse and utilizing its substantial in-house operational capabilities and extensive knowledge of targeted locations, Denholtz capitalizes on unique opportunities in the marketplace. Additional information for Denholtz Associates is available online at http://www.denholtzassociates. com/
