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3659 Midtown Drive

Insight Global Leases 20,000 SF Office Space In Midtown Tampa
LEASEDOffice

Insight Global Leases 20,000 SF Office Space In Midtown Tampa

3659 Midtown Drive

Building Size

20,000 SF

Asset Type

Office

Closing

Oct 23, 2023

AI

The staffing agency, Insight Global, is set to relocate to Midtown Tampa, leasing 20,000 square feet in the Midtown East office tower. This move signifies the company's expansion and adoption of a live-work-play lifestyle within the vibrant Midtown Tampa development.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 3659 Midtown Drive
  • Market: Tampa
  • Asset Type: Office
  • SF: 20,000

The landlord, Bromley Cos., and Highwoods Properties Inc represented by Dan Woodward, will be entering into this lease agreement with Insight Global. Serving as the landlord's representatives are Brad Heeter and Lauren Coup from Highwoods, while Joanne LeBlanc, Jodi Selvey, and Meredith Selvey from Colliers will be acting as the tenant's representatives.

Players

Jodi Selvey

Colliers

Broker

1 deal

Broker
HI
Highwoods Properties IncLandlord

Tampa Office Market Snapshot

Boundary boundary · Office · Lease transactions

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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