Ferguson Leases 50,570 Square Feet Office Space At Gasworx In Tampa To Full Occupancy
1301 East 4th Avenue
Building Size
50,570 SF
Asset Type
Office
Closing
Aug 14, 2026
About this deal
AI
The asset is a 50,570-square-foot office located at 1301 East 4th Avenue in Tampa, FL. This property is part of Gasworx, a 145,000-square-foot Class A office building that has reached full occupancy prior to its completion scheduled for December. The development is part of a larger 50-acre mixed-use redevelopment initiative.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1301 East 4th Avenue
- Market: Tampa, FL
- Landlord: Kevin Murphy - Ferguson
- Tenant: Kettler, Darryl Shaw & PPF Real Estate
This lease agreement involves Industrial supplier Ferguson securing the office space. The Gasworx project is designed and developed by Kettler, Darryl Shaw, and PPF Real Estate, with plans for a total of 6 million square feet of combined residential, office, and retail offerings.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93