SVN Coastal Commercial Advisors Manages Sale of Tampa Office Building for $2,025,000

Business

SRQ DAILY MONDAY BUSINESS EDITION MONDAY JAN 13, 2020

Senior Advisors, John Milsaps and Kenny Anderson of SVN Coastal Commercial Advisors recently coordinated the purchase and sale of 27,841 SF office building, Northwoods Business Center I, in Tampa, FL. GLIC Real Estate Holding LLC, was the seller, represented by Darren Tappen of Kidder Matthews, and John Milsaps and Kenny Anderson of SVN Coastal Commercial Advisors. Rosner Family Properties was the buyer and was not represented in the transaction. Purchase price was $2,025,000. Northwoods Business Center I is New York based Rosner Family Property’s second acquisition in SW Florida. “True value add Tampa investments are few and far between. We got a solid 6 qualified offers on this property, due to that fact alone,” said Milsaps, concerning the sale.  SVN was retained to lease and renew several spaces in the building before the property was put up for sale.  “In a patient and calculated plan, we were able to stabilize this investment to a point where the seller could exceed expectations and the buyer could still see great opportunity,” said Anderson. The buyer plans to make several improvements to the property to stabilize the asset and hold long term.

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