Anderson Ventures Inc Acquires Office From Michael Lerner, Mike Davis, Rick Brugge, Wendy Giffin

The property involved in the transaction is Gateway Point, a 50,931-square-foot office building located at 10051 5th St N in Saint Petersburg, FL. The asset was sold by Tampa-based BDI Properties to Anderson Ventures Inc for a price of $5,700,000.0. Gateway Point is fully occupied by a single tenant, JSA Healthcare Corp., serving as its corporate headquarters. Built in 1978, the property sits on a 3.7-acre parcel in St. Petersburg's Gateway submarket. Recent improvements include a roof replacement and upgrades to the lobby, restrooms, and reception area.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $5,700,000.00
• Market: Saint Petersburg
• Seller's Representative: Michael Lerner (Cushman & Wakefield), Mike Davis (Cushman & Wakefield), Rick Brugge (Cushman & Wakefield), Wendy Giffin (Cushman & Wakefield)
• Buyer: Anderson Ventures Inc
• Square Footage: 50,931 sq ft

The deal was orchestrated by the Cushman & Wakefield team comprising Senior Director Wendy Giffin, Executive Director Rick Brugge, Vice Chairman Mike Davis, and Executive Director Michael Lerner. Wendy Giffin highlighted the property's high potential for future rent growth due to limited competition in the Gateway submarket and its central location within the Tampa–St. Petersburg–Clearwater metro area. In a previous transaction, the same team assisted in the sale of Buschwood Park One and Two in Tampa, Florida.