Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of a 161,455-square-foot (sf) office building located at 6550 W Hillsborough Ave. in the Westshore submarket. The final sale price was $27.3 million, equating to $169 psf.
Cushman & Wakefield’s Rick Brugge, Mike Davis, Rick Colon, and Dominic Montazemi, with support from Chloe Strada and Zach Eicholtz, represented the seller in the transaction. Josh Kuriloff, Andy May, and Nina Fishman of Cushman & Wakefield provided leasing expertise.
The property was sold by GTE Wireless and acquired by Tom Frederick.
“6550 W Hillsborough Ave. is a high quality and well-located office building in Tampa’s desirable Westshore submarket,” said Brugge, Vice Chair at Cushman & Wakefield. “The property also has great tenancy with strong prospects for future success.”
Built in 1999, 6550 W Hillsborough Ave. is a three-story, Class A office building that was 64% occupied at the time of sale. Features include a generous 5.5 per 1,000 sf parking ratio, newly renovated café and lobby, gym, and outdoor seating. The office building offers a value-add opportunity through the lease-up of the entire third floor, which is move-in ready and equipped with high-quality workstations.
In addition to its on-site features, 6550 W Hillsborough Ave. provides superior connectivity to all of Tampa Bay with direct routes to Interstate 275 and 4, two of the region’s main transportation arteries. The office building is also ideally positioned within the thriving live-work-play Westshore submarket, which has experienced robust transformation in recent years and is home to numerous Fortune 500 companies and government tenants along with 15 new apartment complexes built since 2015.