Mike Davis, Rick Brugge, Rick Colon and Dominic Montazemi of Cushman & Wakefield, with support from Zachary Eicholtz and Ryan Jenkins, represented the seller, Highwoods Properties, in the transaction. IP Capital Partners acquired the property.
“The Tampa Bay office market remains strong with new-to-market tenants locating here,” Brugge said. “Preserve V is well-suited to meet the growing demand for space.”
Located at 18205 Crane Nest Drive, the building was 41% leased at the time of the sale. The building features large efficient floor plates, expansive windows and a 5 per 1,000 parking ratio with an adjacent structured parking garage, as well as proximity to nearby retail, dining, housing and entertainment.