Marshall A. Loeb Of EastGroup Properties Inc. Purchases Office In Riverview For $32M

The property asset involved in this transaction is an office park located at 4030 Crescent Park Drive in Riverview, Florida. The sale was completed for a price of $32,000,000, encompassing a total area of 310,940 square feet, which translates to a price per square foot of $103.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $32,000,000
• Buyer: Marshall A. Loeb - EastGroup Properties Inc.
• Seller: Tricia Griffith - Progressive Insurance
• Square Footage: 310,940
• Price Per Square Foot: $103
• Market: Riverview

Marshall A. Loeb of EastGroup Properties Inc. represents the buyer, while Tricia Griffith of Progressive Insurance represents the seller in this transaction. EastGroup Properties plans to demolish the existing buildings and develop a new 550,000-square-foot multi-building complex, with CBRE handling the leasing of the new development.