Birtcher Anderson Realty and Milestone Partners have teamed up to acquire a 232,229 SF industrial flex space property named Center Pointe Business Park located in Tampa, Florida. The property will be managed by Birtcher Andersin with leasing headed up by Colliers.
The property was acquired for $19.00MM ($82 psf) and financed with a senior loan provided by Bank United. The LP equity provided by JCR. The team will cure deferred cap expenditures and lean on the expertise of the Colliers team to back fill space that will be left vacant by the eventual departure of Tesla.
William Wells, CEO of Milestone, said, “We are extremely excited to continue our outstanding partnership with Birtcher Anderson, Bank United, JCR, and Colliers. Milestone has made a concerted effort to place capital both in the industrial space and in Tampa so this acquisition is a natural fit for our overall strategy.”
Renovations and the curing of deferred maintenance are already under way in the first 24 hours of ownership.
