TAMPA, FLORIDA – (November 1, 2016) – Osceola Partners has negotiated the recent sale of Cory Lake Professional Center in Tampa, Hillsborough County, Florida for $8,450,000.00. This sale price represents an increase of 206 % over the $4,100,000 sale price from 33 months earlier.
Michael Winters, Sheriar Khorsandian, CCIM and Lisa Hyde Ferich of Osceola Partners, LLC exclusively represented the seller, Sarasota-based CLPC, LLC, in a transaction that was under contract for only 30 days before closing. During the 33 of months of CLPC LLC’s ownership, Osceola Partners brought the occupancy of the property from 70.57% leased in December 2013 to 90.76% leased at the time of the sale. Osceola Partners will continue to exclusively lease and manage the property under the new ownership, CLPC II, LLC, a Tampa-based private investor.
“This property is located in an area that has experienced explosive growth over the last five years,” says Michael Winters, President and CEO of Osceola Partners. “We continue to see development of single-family homes, townhomes, apartments followed by intensive commercial, retail and supporting services development. Cory Lake Professional Center is in a perfect area to service the almost 24,000 households in the immediate area.”
Cory Lake Professional Center is a 78,182 square foot suburban office and specialty retail complex located in the New Tampa community of Tampa, Florida. It consists of eight single-story buildings built on ±6.2 acres with office, medical and specialty retail tenant users. The property is close to several of Tampa Bay’s major roads and interstates including I-75, I-275, SR-56 and Bruce B. Downs Boulevard, drawing clients and customers from both Hillsborough and Pasco County.
Osceola Partners is a boutique commercial real estate services firm headquartered in Tampa, Florida that specializes in commercial real estate brokerage and property management, and has been named among the top veteran-owned businesses in both 2016 and 2014 by the Tampa Bay Business Journal. Osceola Partners provides landlord, owner and tenant representation services in leasing, selling and site selection of commercial property throughout Central Florida. The principal brokers of the firm have handled several hundred million dollars in lease and sales transactions during their careers. Prior to starting Osceola, the firm’s founder managed a commercial real estate portfolio with a value exceeding $1 Billion. For more information about Osceola Partners, visit www.OsceolaPartners.com.
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