Christian Tyler Properties Acquires Office From Michael Lerner, Mike Davis, And Rick Brugge In Tampa For $10.5M
10210 Windhorst Rd, Tampa, FL, 33619
$10,500,000
$175/SF
Building Size
60,000 SF
Asset Type
Office
Closing
Jan 11, 2018
AI
The property involved in the transaction is a fully leased, 60,000-square-foot office building located at 10210 Windhorst Rd, Tampa, FL, 33619. Constructed in 2002 on 8.2 acres, the building offers amenities such as a café, fitness center, raised IT room, and a parking ratio of 10 spaces per 1,000 square feet. The property was acquired by Christian Tyler Properties for $10.5 million from 10210 Windhorst Blvd LLC.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $10,500,000.00
- Market: Tampa
- Seller's Rep: Michael Lerner (Cushman & Wakefield), Mike Davis (Cushman & Wakefield), Rick Brugge (Cushman & Wakefield)
- Buyer: Christian Tyler Properties
- SF: 60,000
The Capital Markets team of Cushman & Wakefield, including Executive Director Rick Brugge, Vice Chairman Mike Davis, and Executive Director Michael Lerner, represented the seller in the transaction. The building has been fully occupied since its completion and is currently utilized by UnitedHealth Group as a corporate call center with a long-term, triple-net lease. Situated within Pinebrooke Commerce Center, the property offers easy access to major interstates and various amenities in Hillsborough County.
Players
Tampa Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93