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Tommy Spinosa Of Enverra Real Estate Partners Acquires Tampa Office Building For $40.3M

Property Image
SOLD
$40,300,000

Florida

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Office260,000 SF
Sold 12/03/2025
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Property Image
SOLD

Tommy Spinosa Of Enverra Real Estate Partners Acquires Tampa Office Building For $40.3M

1 North Dale Mabry Highway

See Similar Deals
Office260,000 SF
Sold 12/03/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$155
Total Square Footage:260,000 SF
Transaction Type:Sale

The 1 North Dale Mabry Highway is a 13-story office building located in Tampa. The asset encompasses a total square footage of 260,000 and was sold for a transaction price of $40,300,000, translating to a price per square foot of $155.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $40,300,000
  • Buyer: Tommy Spinosa - Enverra Real Estate Partners
  • Seller: Jonathan Slager - Bridge Investment Group
  • Sale Date: 12/03/2025
  • Market: Tampa
  • Square Footage: 260,000
  • Price Per Square Foot: $155

Tommy Spinosa of Enverra Real Estate Partners represented the buyer in this transaction, while Jonathan Slager of Bridge Investment Group represented the seller. Enverra plans to invest $4 million in upgrades to enhance the property, which will include amenities such as a lounge, coffee bar, and outdoor terrace to improve leasing opportunities.

Players

Jonathan Slager
Bridge Investment Group
Jonathan Slager
27 deals$1.9B volume
SELLER

Details

SOLD
IMAGE: Tommy Spinosa & Jonathan Slager DATE: 12/03/2025 ADDRESS: 1 North Dale Mabry Highway MARKET: Tampa ASSET TYPE: Office BUYER: Tommy Spinosa - Enverra Real Estate Partners SELLER: Jonathan Slager - Bridge Investment Group (@Bridge.CRE) SALE PRICE: $40,300,000 SF: 260,000 ~ PPSF: $155 NOTE: Atlanta-based Enverra Real Estate Partners bought the 13-story, 260K-sf 1 North Dale Mabry office building in a lender-driven short sale for $40.3M, far below the $56.5M price paid in 2020. The firm plans to invest $4M in upgrades — including a lounge, coffee bar, outdoor terrace and amenity improvements — as it pushes to reposition the property and boost leasing.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,149,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$143,177.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,042.56
Annual Debt Service$2,292,510.72