William Huffman Of Nuveen Real Estate Acquires Cypress Business Park In Largo For $40.5M

An affiliate of Nuveen Real Estate acquired the Cypress Business Park, an industrial property consisting of two buildings located at 12210 62nd Street North in Largo, Florida. The asset encompasses 208,000 square feet and was purchased for $40.5 million, equating to approximately $194.71 per square foot. Built in 2020, the property is currently leased to multiple tenants, including DHL Express, Home Depot Distribution Center, Monin Gourmet Flavorings, and Source 1 HVAC Supply Center.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $40,500,000
• Buyer: William Huffman - Nuveen Real Estate
• Seller: Franz F. Colloredo-Mansfeld - Cabot Properties
• Year Built: 2020
• Square Footage: 208,000
• Price Per Square Foot: $194.71

Franz F. Colloredo-Mansfeld, representing Cabot Properties, sold the industrial asset to William Huffman from Nuveen Real Estate, reflecting a notable appreciation since Cabot Properties' earlier purchase of the property for $26.7 million in 2021.