July 14, 2016
Equus Capital Partners sold the 167,744-square-foot Riverside at Telecom Park, a Class A office building in suburban Tampa, FL. Buyer Cardinal Point Management paid $27.4 million for the 100%-occupied asset. Paul Carr and Rick Colon with Cushman & Wakefield represented the seller, which had invested more than $2 million in capital improvements.
The asset is located on 16.8 acres at 12470 Telecom Dr. in Tampa Telecom Park. “Riverside at Telecom Park offered investors the opportunity to acquire a fully leased, Class A office asset in a desirable mixed-use business park,” Carr said. “The acquisition also presented an upside and value-add component with below-market rents in place and a well-balanced lease rollover schedule.”