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10210 Windhorst Rd, Tampa, ...

Christian Tyler Properties Acquires Office From Michael Lerner, Mike Davis, And Rick Brugge In Tampa For $10.5M
SOLDOffice

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:

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

Mike Davis

Cushman & Wakefield

Broker

$3.6B

vol

65 deals

Broker
P
PropertiesBuyer

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