TAMPA, FL – November 27, 2012 – Cushman & Wakefield has successfully negotiated the sale of Island Center and Waterford Plaza situated on prestigious Rocky Point Island, which is located in Tampa.
Totaling 494,813 square feet, both properties are Class A, 12-story office buildings. Island Center is 249,797 sf and Waterford Plaza is 245,016 sf. The iconic properties were built in 1985 and 1986 and were 85% leased at the time of sale.
Mike Davis, Executive Director of C&W’s Southeast Capital Markets Group, was quoted as saying, “The capital markets again view Tampa positively from a long-term investment perspective. Accordingly, well-positioned core assets are in high demand.”
Mike Davis, Executive Director, Rick Brugge, CCIM, Associate Director and Michael Lerner, Senior Director of C&W’s Southeast Capital Markets Group negotiated the sale on behalf of the seller, Prudential Real Estate Investors. The buyer is Parmenter Realty Partners. C&W was assisted by CLW Real Estate Services.
* * *
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and assignments. Founded in 1917, it has 253 offices in 60 countries and more than 14,000 employees. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $4 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge.
# # #