Saturday, October 24, 2015

Colliers International Tampa Bay Brokers Sale of 96 Percent Occupied Park Place Office & Promenade in Clearwater, FL to Steelbridge Capital

Melanie Jackson
CLEARWATER, FL – Park Place Office & Promenade, one of the most well-known office parks in Pinellas County, Fla., has sold to an affiliate of Steelbridge Capital, a real estate investment company with headquarters in Chicago and Miami. The purchase price was not disclosed.

The properties, located at 311, 410, 420 and 430 Park Place Boulevard in Clearwater include a six-story, 118,447-square-foot office building and three, single-story, promenade-style buildings, totaling 50,221 square feet. The property was 96 percent occupied at the time of sale.

John Gerlach, CCIM, Vice President of Investment Services at Colliers International Tampa Bay, represented the undisclosed seller. The buyer is Steelbridge II, Park Place LLC.

“We are pleased to be back in Tampa buying office property” said Mike Manno, Principal at Steelbridge Real Estate Services. “After our successes in the last cycle with such properties as the Urban Center and Sunforest I and II in Westshore, and Bushwood II and III in North Tampa, we are focused on expanding our Tampa Bay regional footprint.”

Melissa Hazlewood
Steelbridge will manage the property in concert with the Tampa office of JLL. Colliers International Tampa Bay’s office team of Alan Feldshue and Melanie Jackson will continue to lease the property, as they have since 2007.

Melissa Hazlewood, Regional Manager with JLL, stated, “We are very excited to partner with Steelbridge and continue our contribution to the asset’s investment goals as we did successfully for prior ownership.” 

For a complete copy of the company’s news release, please contact:

Juliette Lauer     
Account Executive
B2 Communications
p 727.895.5030 x107 | c 407.405.5696

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