Vertica Commercial Advisors (VCA), a subsidiary of Tampa based Vertica Partners, has arranged the sale of 13.02 acres located at 2508 N. Lakeview Drive in Tampa, Florida for $1,900,000. VCA founding partners, T. Sean Lance and Max Boehmer represented both parties in the transaction.
According to Lance “The property will be developed into an 81 unit for-sale townhome community. Clearly the highest and best use for the property was to reposition it from its current use as a driving range into another use. We worked closely with the buyer and seller to come up with a development plan which was appropriate for the surrounding community while maximizing the underlying value of the land. The property was contracted in 2016 and closed once the final governmental approvals and permits were in place.”
“The project is in the North-Central Tampa Carrollwood submarket. This submarket is well established and in close proximity to significant employment centers, retail, services and provides excellent access throughout Tampa. Interest in the site was very high as there are very few remaining development parcels of this scale in the area” stated Boehmer.
VCA had the Exclusive Right of Sale Listing on behalf of Tampa Golf Range and Learning Center Inc. and identified and worked with the buyer (Beazer Homes) directly throughout the marketing and contract process.
Vertica Partners is a vertically integrated investment, advisory and development firm based in Tampa, Florida. Vertica Commercial Advisors primarily focuses on multifamily investment sales, institutional residential aggregation and land sales. Vertica’s principals currently have nearly $100 million in projects under development, more than $1.6 billion in transaction history and have provided advisory services on more than $3.5 billion in development projects throughout the southeastern United States.