Tampa, FL — Avison Young completed a $3.5 million sale of Stadium Executive Center, a 27,503-square-foot 2-story class B office building located at 4107 N. Himes Avenue in Tampa, Fla. Avison Young’s Trey Carswell, Principal, and Lauren Coup, Vice President, represented the seller, RMS Assets, LLC, in the disposition of the asset to Roche Surety & Casualty Company, Inc.
The office investment sales market in Tampa remains a comparative value, with activity picking up among non-distressed assets. “There is a lack of viable options for businesses wanting to purchase quality office properties in the 10,000 square feet and up size range,” said Mr. Carswell. “Our strategic marketing efforts led to being able to source and come to terms with a quality buyer and do so within only 45 days of listing the property.”
The buyer will occupy the second floor while maintaining three leases with existing tenants on the first floor. Avison Young has been retained to lease the remainder of the first floor, which is vacant and available for a 3,000 square foot user.
Located in the Westshore submarket directly across from Raymond James Stadium, Stadium Executive Center is a part of a growing trend of properties to undergo modernization updates for a competitive advantage. With a renovated lobby and first floor restroom and elevator improvements, Stadium Executive Center is dubbed class B+.
“The immediate sale of this building reflects exactly what the market is starting to dictate. There is more demand than there is supply and the location of this building was an important factor in this sale, and we anticipate the same with leasing,” said Ms. Coup.
Avison Young’s South Florida operations provide best-in-class services to local, national and international clients while also networking with the firm’s other offices across the U.S. and Canada. For more information about Avison Young and investment sales in Florida, please contact Mr. Carswell at (813) 444-0627 or visit http://www.avisonyoung.com/offices/tampa.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,500 real estate professionals in 58 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.