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The Challenge

CitiMortgage had a surplus call center of 86,366 square feet in Tampa, Florida.  The property, acquired in an acquisition, was a converted retail building in Tampa's highest vacancy submarket. While investment properties were in demand – vacant ones were not. CitiMortgage needed to command the highest possible sale price and wanted a solution.

The Solution

A team of specialists was formed to implement a two-pronged strategy involving CBRE's Investment Property Group (Sales expertise) and Global Corporate Services (User expertise).  The goal was to identify either an owner/user to purchase the building, or to conclude a lease and then identify an investor to purchase it for added value. CBRE brought the Economic Development Groups for both the county and the city into the marketing effort.  



"Thank you for the persistence and diligence regarding the sale of the Temple Terrace property.  Please express our gratitude to all CBRE participants that were involved in the success of concluding this transaction."

David Bain, Citigroup
Corporate Realty Services

 

 
© 2009 CB Richard Ellis | Last Modified:Wednesday, July 23, 2003
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