TAMPA, Fla. (Jan. 9, 2017) – Colliers International has handled the sale of a 39,150-square-foot Class A office building in Oldsmar, a suburb of Tampa, for $6.2 million.
Alan Feldshue, Executive Managing Director of Office Services with Colliers International Tampa Bay, represented the seller, YMC Oldsmar Investments, LLC, in the transaction. The buyer is 3986 Tampa Road, LLC, and was represented by Jack Cohen of Cohen Commercial Real Estate Group.
The three-story property has been occupied entirely by BayCare Health Systems since its construction in 2002. In 2016, the building underwent several improvements, which include new landscaping, window replacements and $250,000 of interior upgrades. The building has 332 parking spaces in the project’s garage and surface lots.
Located conveniently between Hillsborough and Pinellas counties, the property is near Westchase, Citrus Park, Safety Harbor, Palm Harbor and Dunedin. The property is also less than a 30-minute drive to Tampa International Airport, St. Pete-Clearwater International Airport and downtown Tampa.
“Tampa’s office market is very healthy right now, driven by combination of low unemployment, active investor demand and low vacancy rates across the board, including in the suburbs,” said Colliers’ Feldshue. “This property is in a good location and is expected to offer solid returns to the buyer.”
Nearby amenities include well-known brands within walking distance such as Moe’s Southwest Grill, Tampa Bay Brewing Company and Wells Fargo Bank.
The property is located at 3986 Tampa Road in Oldsmar.
COLLIERS INTERNATIONAL
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that helps clients accelerate their success. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 12 consecutive years, more than any other real estate services firm. Colliers also has been ranked the top property manager in the world by Commercial Property Executive for two years in a row.
For the latest news from Colliers, visit Colliers.com or follow us on Twitter (@Colliers) and LinkedIn.