Thursday, March 20, 2008

Cushman & Wakefield Negotiates Sale of Bridgeport Center for $29.5M





TAMPA, FL – Cushman & Wakefield negotiated the sale of Bridgeport Center (map at left) in Tampa, Florida for $29.5 million. This is the Tampa Bay area’s first major building trade this year since the credit crunch.

The property was 96 percent occupied at the time of the sale. Bridgeport Center is a170,924 square foot, nine-story office building located in Tampa’s premier Westshore Business District

Mr. Davis was quoted as saying, “Bridgeport Center sold for nearly as much as Cushman & Wakefield estimated it would before the recent credit crisis. This is indicative that buyers are remaining bullish about commercial properties in the Tampa Bay area.”

Senior Director Mike Davis (Capital Markets) and Associate Director Rick Brugge, CCIM (Capital Markets) negotiated the sale on behalf of the seller, AEW Capital Management, LP. The buyer was Flagler Development Group, Inc.
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Cushman & Wakefield Negotiates Sale of Reflections of Hidden Lake for $8.95M
TAMPA, FL– Cushman & Wakefield negotiated the sale of Reflections of Hidden Lake in Orlando, Florida for $8.95 million. Reflections of Hidden Lake is a 96,322 square foot office investment property located within Orlando’s premier Lake Mary submarket.

Executive Director Mike Davis (Capital Markets), Associate Director Rick Brugge, CCIM (Capital Markets) and Director of Office Leasing Matthew McKeever negotiated the sale on behalf of the seller. The buyer was Rudnick Development Group.
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Cushman & Wakefield Represents Lifelink Foundation, Inc. in the Sale of 10 Acres at Crosstown Center
TAMPA, FL– Cushman & Wakefield represented LifeLink Foundation, Inc. in the sale of 10 acres for $4.65 million at Crosstown Center in Brandon, Florida. LifeLink Foundation, Inc., founded in 1982, is a non-profit community service organization whose focus is organ and tissue transplantation therapy. This purchase will allow LifeLink Foundation, Inc. to develop offices in the Brandon area.

Crosstown Center, located in Brandon Florida and bordered by the LeeRoy Selmon Expressway and U.S. Highway 301, includes up to 1.1 million square feet of development, comprising office, hotel, retail and multi-family. Andy May, Executive Director and Bruce Erhardt, ALC, Executive Director negotiated the sale on behalf of the buyer, LifeLink Foundation, Inc.
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Cushman & Wakefield Represents Media General Operations, Inc. in the Sale of 125 Country Club Drive
TAMPA, FL – Cushman & Wakefield represented Media General Operations, Inc. in the sale of a 6,312 square foot office building located at 125 Country Club Drive in Tampa, Florida. Formerly occupied by The Tampa Tribune, one of Media General’s publishing assets; the building was purchased by IT Properties, LLC for $875,000.

Built in 1961, 125 Country Club Drive is a single-tenant office building located just west of I-275 in the Forest Hills area of Tampa, Florida. Andy May, Executive Director, Barry Oaks, Director and Bill Reeves, Associate Director negotiated the sale on behalf of the seller, Media General Operations, Inc.
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Cushman & Wakefield Negotiates Two Leases Totaling 28,000 SF at Hobbs Road Industrial Center Condo
TAMPA, FL – Cushman & Wakefield negotiated two leases totaling 28,000 square feet for WRS Infrastructure & Environment, Inc. at Hobbs Road Industrial Center Condo in Tampa, Florida. Founded in 1983, WRS Infrastructure & Environment, Inc. provides business solutions and support in matters regarding environmental, regulatory, civil engineering and construction issues.

Hobbs Road Industrial Center Condo, located just east of I-75 in Tampa, Florida, is a 70,000 square foot industrial service center. Andy May, Executive Director, Barry Oaks, Director and Bill Reeves, Associate Director negotiated the new leases on behalf of the tenant, WRS Infrastructure & Environment, Inc.
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Cushman & Wakefield Negotiates 10,958 SF office Lease at Watermark 3
TAMPA, FL – Cushman & Wakefield negotiated a 10,958 square foot lease for Citrus Health Care, Inc. at Watermark 3 in Tampa, Florida. Citrus Health Care, Inc is a Florida based HMO. Andy May, Executive Director, Barry Oaks, Director, Bill Reeves, Associate Director and Scott Garlick, Associate negotiated the new lease on behalf of the tenant, Citrus Health Care, Inc.
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Cushman & Wakefield Negotiates 8,240 SF office Lease at One Metrocenter
TAMPA, FL – Cushman & Wakefield negotiated an 8,240 square foot lease for Baldwin Connelly Group, LLC at One MetroCenter in Tampa, Florida. Baldwin Connelly Group, LLC is an independent and privately held firm whose specialty is risk management and insurance.

One MetroCenter, located within the Westshore Business District at 4010 Boy Scout Boulevard in Tampa, Florida, is an 11-story, 240,320 square foot Class A multi-tenant office building. Andy May, Executive Director, Barry Oaks, Director and Bill Reeves, Associate Director negotiated the new lease on behalf of the tenant, Baldwin Connelly Group, LLC.

For more information
Contact: Marcianne Foster
813-204-5345
Marcianne.Foster@cushwake.com

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