facebook
Traded Co logo
Submit

RealOp Investments Acquires Office Property In Tampa For $20M

Property Image
SOLD
$20,000,000

Florida

See Similar Deals
Office195,558 SF
Sold 01/29/2018
the dealplayerscompscontact
Property Image
SOLD

RealOp Investments Acquires Office Property In Tampa For $20M

5660 W Cypress St, Tampa, FL, 33607

See Similar Deals
Office195,558 SF
Sold 01/29/2018
Contact now

Summary

FLORIDA
Asset Type:Office
Price Per Square Foot:$102
Total Square Footage:195,558 SF
Transaction Type:Sale

Bay West, located at 5660 W Cypress St, Tampa, FL, 33607, is an office asset that was sold for $20,000,000.00. The property encompasses 195,558 square feet and is situated in the Tampa market, specifically within the Westshore Business District. The asset consists of eight garden-style office buildings that were completed between 1983 and 1985.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $20,000,000.00
  • Seller: Equus Capital Partners
  • Buyer: RealOp Investments
  • Financing: $17.1 million provided by Wells Fargo Bank
  • SF: 195,558
  • Seller's Rep: Michael Lerner, Mike Davis, Rick Brugge - Cushman & Wakefield
  • Leasing Team for Buyer: Paula Buffa, Lauren Coup
  • Major Tenants: Fidelity National Title, GEICO, Beef 'O' Brady's
  • Occupancy Rate: 95 percent leased

The transaction featured key representatives from Cushman & Wakefield, with Vice Chairman Mike Davis, Executive Directors Rick Brugge and Michael Lerner representing the seller. RealOp Investments has retained Cushman & Wakefield as the exclusive leasing advisor. The location of Bay West offers strategic access to essentials such as Westshore Plaza, Tampa International Airport, and nearby major roadways, enhancing its appeal as an office park.

Players

Mike Davis
65 deals$3.6B volume
BROKER

Rick Brugge
Cushman & Wakefield
65 deals$2.8B volume
BROKER

Michael Lerner
Cushman & Wakefield
8 deals$280.6M volume(407) 841-8200
BROKER

BUYER

Details

SOLD
IMAGE: 01/29/2018 ADDRESS: 5660 W Cypress St, Tampa, FL, 33607 MARKET: Tampa ASSET TYPE: Office SELLER'S REP: Michael Lerner, Mike Davis, Rick Brugge -Cushman & Wakefield BUYER: RealOp Investments PRICE: $20,000,000.00 SF: 195558

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44