Clearwater, FL – January 16, 2014 – CBRE has arranged a lease at Colonial Center Bayside II for Insurance Administrative Solutions (IAS), a leading provider of third-party administrative solutions, for 45,000 square feet at 17757 US Highway 19 North in Clearwater, Florida. CBRE’s Clay Wommack and Hans Kaunath represented the landlord, DRA Advisors, LLC, in the transaction.
“This lease is a testament to the success of our ongoing repositioning and lease-up strategy for this well-located office property,” stated Clay Wommack, CBRE Vice President. “Colonial Center Bayside creates a modern and unique work environment for this market that effectively addresses the requirements of tenants today.”
“The building and existing vacancy permitted the tenant to utilize top floor space with dynamic bay views allowing them to gain tremendous economies of space in the building,” stated Hans Kaunath, CBRE Vice President. “We were able to provide a quick response to their space needs and improve their overall position from their existing space in a very positive way at extremely competitive rates.”
The lease brings Colonial Center Bayside to 85% leased. Built in three phases between 1984 and 1990, the Class A office buildings consists of a total of 212,136 square feet within two independent buildings, a 6-story and 4-story building. Property amenities include a covered parking deck, views of Old Tampa Bay, marina and golf course, on-site deli and on-site property management provided by CBRE. Major tenants include Baycare Health, Capital Collateral, GEA Power, Next Sphere and Wakely Consulting.
Colonial Center Bayside is located in the heart of the Bayside office submarket on US Highway 19 North in Pinellas County. The property provides easy access to both the Howard Franklin Bridge (I-275) and the Courtney Campbell Causeway (SR60), in proximity to both St. Petersburg/Clearwater International Airport and Tampa International Airport, allowing for convenient business travel. There is an abundance of retail, lodging and restaurants within the immediate area.
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.