University Business Center I & II

10500 University Center Drive, Tampa, FL, 33612, US

묘사

Jones Lang LaSalle ("JLL") is pleased to present the exclusive opportunity to acquire University Business Center I & II (the "Property"), a strategically positioned 109,688 square foot flex portfolio comprising two buildings in the rapidly transforming Uptown Tampa in the Northeast Tampa submarket. The Property delivers an exceptional 97.6% occupancy with a 2.3-year Weighted Average Lease Term (WALT) and 6.7-year Weighted Average Tenant Tenure (WATT). Built in 1988, the Property features a 4.0 / 1,000 SF parking ratio and represents a rare opportunity to acquire a flex asset at a significant discount to replacement costs in one of Tampa's fastest-growing corridors.

University Business Center I & II is situated on an infill site with high barriers to entry that benefits from proximal access to major transportation routes, including Hwy 582, I-275 and I-75, connecting the Property to the surrounding area's rooftop growth and downtown Tampa in 30 minutes. The Property also offers prime positioning at the epicenter of Tampa's thriving healthcare corridor, strategically situated within a two-mile radius of three major hospital systems. The Property's location directly adjacent to the University of South Florida campus, one of America's fastest-growing universities, provides direct access to emerging talent and positions the asset to benefit from ongoing university-driven development and institutional expansion. With over 30 dining options, retail services, and entertainment venues in the immediate vicinity, the Property provides tenants with a robust amenity base.

The Property's diverse tenant mix spanning technology, medical, and engineering users reflects the versatility of its infrastructure and adaptable floor plans, with medical tenants comprising approximately 32% of occupied RSF, underscoring the asset's strong alignment with the surrounding healthcare ecosystem. Strong leasing momentum since 2024 demonstrates continued market demand, with 58,525 square feet of leasing activity including 31,091 square feet of new and expansion space alongside 27,434 square feet of renewals. With a 12.9% mark-to-market opportunity on in-place rents, the Property offers significant upside potential. Six roll-up doors and flexible configurations accommodate business, flex, medical, retail, and showroom tenants across varied space types, providing stable cash flow from multiple industries.

University Business Center I & II presents an outstanding investment opportunity to acquire a highly desired flex asset in one of Florida's most dynamic growth markets.

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개요

Total SF

109,688

점유율

97.6%

Roll-Up Doors

Year WALT | Year WATT

2.3 | 6.7

Parking Ratio

4.0 / 1,000 SF

미디어

투자 하이라이트

HIGHLY DESIRED INFILL FLEX ASSET WITH VERSATILE INFRASTRUCTURE

The Property features six roll-up doors with a versatile mix of warehouse, office, lab, and production space, accommodating diverse uses across multiple tenant types with adaptable floor plans and an average tenant size of 8,231 SF.

SIGNIFICANT UPSIDE POTENTIAL WITH 12.9% MARK-TO-MARKET OPPORTUNITY

In-place rents present a compelling 12.9% mark-to-market opportunity, offering near-term value creation, with the two latest renewals increasing weighted effective rent by 35%.

OFFERED AT A SIGNIFICANT DISCOUNT TO REPLACEMENT COST

The Property is being offered at a significant discount to estimated replacement cost of approximately $325 per square foot, providing an attractive cost basis for a future owner.

97.6% OCCUPIED WITH STRONG LEASING MOMENTUM ACROSS DIVERSE TENANT BASE AND STRONG MEDICAL PRESENCE

Impressive leasing activity of 58,525 SF since 2024 has driven strong occupancy across medical, technology, and engineering users, with medical tenants comprising approximately 32% of occupied RSF.

ADJACENT TO ONE OF AMERICA'S FASTEST-GROWING UNIVERSITIES

Located directly adjacent to the University of South Florida campus, the property benefits from access to emerging talent, university-driven development activity, and ongoing institutional expansion.

STRATEGICALLY POSITIONED WITHIN ONE OF THE LARGEST MEDICAL RESEARCH DISTRICTS IN THE COUNTRY

The Property sits at the epicenter of Tampa's thriving healthcare corridor with immediate access to three major hospital systems within a two-mile radius.

THRIVING LOCATION WITH EXCEPTIONAL AMENITY BASE

The Property benefits from proximity to over 30 dining options, retail services, and entertainment venues within the surrounding area.