TAMPA, FL – Sept. 23, 2008 – CB Richard Ellis' (CBRE's) Investment Properties Group is pleased to announce the sale of 550 N Reo Street, (top right photo) a three-story, 76,397-square-foot, Class "B" office building in Westshore. The property sold for $9,300,000 and comprised of the 4.15-acre building site, and an additional 1.25 acr
es of land.
CBRE's Dale Peterson, (top left photo) Senior Vice President and Paul W. Carr, (bottom right photo) Associate, brokered the sale of the building on behalf of the seller, American Ventures Realty.
"The Westshore office market continues to be the most desirable submarket in the Tampa Bay area in terms of investor demand," says Dale Peterson, "This sale demo
nstrates that deals can and will continue to transact, particularly for well located assets, despite the challenges we face in the current capital markets environment."
Constructed in 1985, 550 Reo is prominently located within the Westshore Business District along North Reo Street immediately south of Cypress Street.
550 Reo
was purchased by Arthur Hill & Co and was approximately 93% percent leased at the time of sale. Tenants include the headquarters location for Global Data Management Services, a telecom network management company, Accent Property Management dba Centers of Westshore, an executive suite operator, and Lockheed Martin.
Contact:
Lauren Crawford, Communications Specialist, 813 273 8482
es of land.CBRE's Dale Peterson, (top left photo) Senior Vice President and Paul W. Carr, (bottom right photo) Associate, brokered the sale of the building on behalf of the seller, American Ventures Realty.
"The Westshore office market continues to be the most desirable submarket in the Tampa Bay area in terms of investor demand," says Dale Peterson, "This sale demo
nstrates that deals can and will continue to transact, particularly for well located assets, despite the challenges we face in the current capital markets environment."Constructed in 1985, 550 Reo is prominently located within the Westshore Business District along North Reo Street immediately south of Cypress Street.
550 Reo
was purchased by Arthur Hill & Co and was approximately 93% percent leased at the time of sale. Tenants include the headquarters location for Global Data Management Services, a telecom network management company, Accent Property Management dba Centers of Westshore, an executive suite operator, and Lockheed Martin.Contact:
Lauren Crawford, Communications Specialist, 813 273 8482
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