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.
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