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TerraCap Management Sells Property At 12906 Tampa Oaks Blvd Tampa For $14.5M With CBRE Representation

Property Image
SOLD
$14,500,000
Joe Chick
Courtney Snell
+ 3

Florida

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Office104,080 SF
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Property Image
SOLD

TerraCap Management Sells Property At 12906 Tampa Oaks Blvd Tampa For $14.5M With CBRE Representation

12906 Tampa Oaks BLVD, Tampa, FL...

See Similar Deals
Office104,080 SF
Joe Chick
Courtney Snell
+ 3
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$139
Total Square Footage:104,080 SF
Transaction Type:Sale

A sale has occurred for an office building located at 12906 Tampa Oaks Blvd, Tampa, FL, within the Temple Terrace market. The transaction was completed at a price of $14,500,000.00 for a total area of 104,080 square feet. The property, known as Tampa Oaks II, was constructed in 2008 and has notable tenants including Liberty Mutual Insurance Co., Fieldstone A&E, and Home Encounter LLC.

Summary of transaction details:

  • Property Type: Office Building
  • Transaction Amount: $14,500,000.00
  • Address: 12906 Tampa Oaks BLVD, Tampa, FL
  • Market: Temple Terrace
  • Buyer: Undisclosed
  • Seller: TerraCap Management
  • Buyer's Representative: Marc Magliarditi-CBRE
  • Seller's Representatives: Kristen Hagen-CBRE, Courtney Snell-CBRE
  • Broker: Dale Peterson-CBRE, Joe Chick-CBRE
  • Square Feet: 104080

The deal saw participation from multiple representatives from CBRE, with Marc Magliarditi representing the unnamed buyer and Kristen Hagen along with Courtney Snell representing the seller, TerraCap Management. Additionally, Dale Peterson and Joe Chick acted as brokers in this transaction.

Players

Marc Magliarditi
7 deals$87.9M volume
BROKER

Joe Chick
CBRE
9 deals$197.6M volume
BROKER

Courtney Snell
CBRE
7 deals$122M volume
BROKER

Dale Peterson
CBRE
8 deals$147M volume(183) 273-8409
BROKER

Kristen Hagen
CBRE
6 deals$107.5M volume
BROKER

Nick Sharpe
CBRE
5 deals$107.5M volume
BROKER

TerraCap Management
SELLER

Details

SOLD
IMAGE: 12906 Tampa Oaks BLVD, Tampa, FL... MARKET: Temple Terrace BUYER'S REP: Marc Magliarditi-CBRE SELLER'S REP: Kristen Hagen-CBRE, Courtney Snell-CBRE BROKERS: Dale Peterson-CBRE, Joe Chick-CBRE BUYER: Undisclosed SELLER: TerraCap Management PRICE: $14,500,000.00 SF: 104080

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

$773,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77