Office
Under Contract

Park at Bay Plaza

9225-9350 Bay Plaza Blvd, Tampa, FL, 33619-4466, US

Executive Summarydownload
Park at Bay Plaza_Property for Sale

Gallery

Park at Bay Plaza 2_Property for Sale

Asset description

JLL Capital Markets (“JLL”) is pleased to exclusively offer the opportunity to acquire Park at Bay Plaza (the “Property”), a seven-building 186,239 square foot office portfolio located in Tampa, Florida. This single-story portfolio provides convenient drive-up access and boasts an above average surface parking ratio of approximately 3.6/1,000 SF. Park at Bay Plaza sits on approximately 13 acres, conveniently located near Tampa’s major transportation arteries, including Interstate 4, Interstate 75, and the Selmon Expressway. The Property’s centralized, commuter friendly location services the 3.2 million people living in the Tampa MSA. 


Currently 80% leased to a number of strong local, regional, and national tenants, Park at Bay Plaza is a rare value-add investment opportunity with tremendous upside potential. A new owner will benefit from in-place rents at 11.7% below market average, allowing for tenancy roll to result in higher rental rates. The Property offers unique, flexible layouts for office, medical and flex tenants including roll up doors and executive suites. 

Attributes

Building area Net
186,239 sf
Occupancy
80.00%
Year built
1974

Investment highlights

UPSIDE POTENTIAL: Average rental rates are currently 11.7% below market rates


VALUE-ADD: 80.2% current occupancy presents the opportunity to lease up over 36,000 SF


FUNCTIONALITY: Perfectly positioned to benefit from the wave of tenants focused on well located, single story suburban office buildings with flexible space availabilities


SUPREME CONNECTIVITY & ACCESS: Well-located in the I-75 corridor with excellent proximity to major interstate systems including I-4, I-75, and the Selmon Expressway


STRONG ECONOMIC METRO DRIVERS: Tampa MSA has been the beneficiary of the great migration to Florida, bringing residents and capital to the area

Park at Bay Plaza 4_Property for Sale
Park at Bay Plaza 4_Property for Sale

Contact brokers

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Nov 30, 2022