Tampa, FL, December 4, 2019 – Commercial Florida Realty Partners brokered the sale of the 77,666 RSF Reo Center, an office building located at 405 N Reo St. in Tampa, Florida’s preeminent suburban Westshore Submarket, Commercial Florida President George Sacks, represented the Seller.
A high net worth foreign investor, REO Center Tampa, LLC, acquired the office building in May 2018 for $8,800,000. Commercial Florida provided a full suite of services for the property since its acquisition including property management, asset management, leasing, financial budgeting, reporting, and accounting services. Additionally, Commercial Florida provided initial underwriting, investment analysis, and due diligence for the property prior to and throughout the entire acquisition process. In connection t with sale of its larger Tampa portfolio, Commercial Florida Realty Partners brokered the sale of Reo Center for a total purchase price of $10,700,000.
“We were pleased to have been instrumental in facilitating this sale, which was a part of a strategic assemblage into adjoining Cypress Center on the part of the Buyer in a related, but separate transaction” said Sacks.
- • Reo Center is comprised of a ±77,666 RSF, 3-story professional office building above a first-floor atrium featuring natural lighting, a café with abundant seating, and lavish interior landscaping on a ±4.3-acre lot
- • Location: Situated within Tampa’s superior Westshore office submarket, Reo Center provides accessibility to I-275, Veterans Expressway, and State Road 60. The asset’s favorable location is minutes from the Tampa International Airport, Downtown Tampa, numerous hotels and major retail centers
- • Additional Amenities: Abundant parking includes 304 covered spaces in addition to 20 free surface spaces bringing the parking ratio to 4.2 / 1,000; 2-level structured parking garage immediately adjacent to the building with canopy covered walkway access to Reo Center; nearby Cypress Point Park which offers kayaking and running trails that allow walking and bicycling along the 10.5-mile Courtney Campbell Trail directly across the bridge to Clearwater
About Commercial Florida Realty Partners: Commercial Florida Realty Partners, based in Boca Raton and Tampa, Florida, is a leading vertically integrated commercial real estate office operator and investor specializing in the asset management, property management, leasing, and acquisition and disposition of office properties throughout Florida. As a full-service boutique commercial real estate organization, Commercial Florida Realty Partners continuously seeks new and better ways to add value for clients and is committed to providing the highest level of service. Team-driven and focused on clients and partners, Commercial Florida Realty Partners brings together a command of local markets, unsurpassed research capabilities and entrepreneurial approaches to give its clients and partners every advantage in the marketplace. It continues to build its organization to be responsive to clients’ needs, adding new expertise and services where appropriate.