Saxum Real Estate Partners Acquires Netpark Office in Tampa
Private Developer Sells 950,000-Square-Foot Mall-Turned-Office Complex
Saxum Real Estate Partners, a New Jersey-based investment firm, acquired a 947,176-square-foot office complex in Tampa, from a private developer for $45 million, or about $47.51 per square foot. It is the company's first purchase in the Tampa area.
“Investors were drawn to NetPark due to its highly amenitized technology-focused office space that caters to a diverse tenancy, including Tampa’s growing presence of shared service operation centers,” said CBRE Senior Vice President Dale Peterson, who represented the seller alongside Joe Chick and Courtney Snell.
This mall-converted-office complex was developed in 1976 as a regional shopping mall and was converted into an office property in 1999.
Netpark sits on over 98 acres and is the largest office building in Tampa. Netpark includes a dining hall, fitness center, conference facility, a 17,500-square-foot childcare facility and a HART bus terminal.
(CoStar Analytics | By Rachel Totty)
If you have questions or would like to read the related article, please contact us via email and we will send you the link.