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October 21, 2019 Comments Off on Six-Building Flex Portfolio Trades for $47M in Oldsmar Views: 576 Central Florida, Florida News, Top Florida

Six-Building Flex Portfolio Trades for $47M in Oldsmar

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JLL arranged the $47.1-million sale of 580 Corporate Center, a six-building, multi-tenant industrial and office portfolio totaling 376,551 square feet in the Tampa-area community of Oldsmar.

Situated on more than 20 acres, 580 Corporate Center is located at 4023, 4025, 4027, 4029, 4033 and 4035 Tampa Rd. The property is currently 91% leased to a mix of credit and local tenants, with an average remaining lease term of nearly five years. A future pedestrian bridge over Tampa Road will provide tenants direct access to Oldsmar Town Center’s shops and restaurants.

Robbie McEwan, Luis Castillo and Chris Drew of JLL represented the seller, Tampa-based Cardinal Point Management, in the transaction. The buyer was Adler Real Estate Partners. Additionally, working on behalf of the new owner, JLL placed a $31.8-million, five-year, fixed-rate acquisition loan with Regions Bank.

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