Westlake Corporate Center I & II

Tampa, FL, US, Americas

Description

JLL Capital Markets has been exclusively retained to offer the 100% fee simple interest in Westlake Corporate Center I & II (the “Property”), a 179,966-square-foot, premier Class A office portfolio located on a 13.7-acre site in Tampa’s dynamic Northwest submarket. Currently 90% leased to a creditworthy roster of global and national corporations, the Property provides durable, in-place cash flow. This stability is underscored by a 4.4-year WALT (“weighted average lease term”) and a 10-year WATT (“weighted average tenant tenure”). The Asset’s competitive position has been significantly enhanced through $3M in recent capital improvements, delivering a modernized environment that limits a new owner’s near-term capital exposure. Furthermore, Westlake I & II boasts unmatched connectivity, offering direct access to the Veterans Expressway and proximity to a robust live-work-play amenity base.

This offering represents a compelling opportunity to acquire a stabilized, recently upgraded asset poised to capture the continued upside of Tampa’s powerful economic trajectory.

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Attributes

Building area gross

179,966 sf

Number of floors

Land area gross

13.7 acres

Year built

1999

Occupancy

89.5%

WALT

4.4 years

Westlake Corporate Center I & II (2 Properties)

Media

Investment Highlights

High Quality Committed Tenancy

Durable, Long-Term Cash Flow: The Property is anchored by a strong base of major tenants occupying 76% of the RSF with a WATT (“weighted average tenant tenure”) of 11 years, ensuring a secure and predictable income stream with minimal near-term rollover risk.
Proven Tenant Commitment & Location Validation: PennyMac, a national leader in the mortgage industry, has demonstrated a significant commitment to this location through multiple expansions and extensions, serving as a strong endorsement of the property’s quality and strategic advantages.
Significant Leasing Momentum: The Asset has proven its market desirability with significant recent leasing velocity, having executed over 30,000 SF in new and expansionary leases within the last 15 months.
Superior Parking Infrastructure: The Property features a market-leading structured parking ratio of 6.0 per 1,000 SF.

Significant Discount to Westshore with Little Space Remaining

Centrally Located for all of Tampa’s Commuters