Thursday, October 29, 2009

Cushman & Wakefield Negotiates Sale/Leaseback of Verizon-Owned Building in Temple Terrace, FL

Tampa, FL – Cushman & Wakefield negotiated the Sale/Leaseback of a 57,886 sf two story office building (top right photo) in Temple Terrace, Florida for $2.6 million.

The asset located at 10402 N. 56th Street, was owned by Verizon and will be occupied by them for 15 months from the date of sale.

Associate Director of C&W Florida’s Capital Markets Group, Rick Brugge was quoted as saying,

 “In a challenging environment we were able to structure a transaction that was accretive to both the seller and

Executive Director Mike Davis (Capital Markets) (bottom left photo); Associate Director Rick Brugge, CCIM (Capital Markets); Executive Director Andy May; Director, Office Brokerage Barry Oaks, CCIM and Bill Reeves Associate Director of C&W negotiated the sale on behalf of the seller, Verizon.

The buyer, Franklin Property & Development Group, was represented by Director Rian Smith, Industrial Brokerage of C&W.

Contact:  Debbie P’Simer, 813-204-5333. debbie.p’

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