TAMPA, December 27, 2017 – – Cushman & Wakefield has negotiated the sale of Gateway Point, a 50,931-square-foot office building in St. Petersburg, for $5.7 million. The property is fully occupied by a single tenant, JSA Healthcare Corp., a subsidiary of DaVita Medical Group.
The Cushman & Wakefield team of Senior Director Wendy Giffin, Executive Director Rick Brugge, Vice Chairman Mike Davis and Executive Director Michael Lerner, represented seller BDI Properties, a private commercial real estate investment group based in Tampa. The buyer is Anderson Ventures, Inc. a St. Petersburg-based real estate company.
Gateway Point is situated on 3.73 acres at 10051 Fifth St. N. in St. Petersburg’s Gateway submarket, which is centrally located within the Tampa-St. Petersburg-Clearwater MSA. The building fronts Gandy Boulevard and provides convenient access to Interstate 275.
DaVita Medical Group is a Fortune 500 company that operates and manages medical groups and affiliated physician networks. Subsidiary JSA Healthcare Corp. uses Gateway Point as its corporate headquarters and has occupied the building for seven years.
Gateway Point was built in 1978 and has recently received several significant capital improvements, including a new roof. Additionally, the tenant recently upgraded the lobby, restrooms and reception area.
“Available sites for new office construction are extremely limited in St. Petersburg’s Gateway submarket,” said Giffin. “The lack of competition from new development paired with a desirable central location give this property high potential for future rent growth.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.