CBRE Facilitates Sale of Fully Leased Office Building in Tampa

CBRE has arranged the sale of Fountain Square III, a Class A, 176,150-sq.-ft., four-story office building located at 4900 Memorial Highway in Tampa, Fla.

Dale Peterson, Joe Chick and Courtney Snell with CBRE’s Tampa Capital Markets team and Will Pike with CBRE’s National Net Lease Capital Markets team represented the seller, Net Lease Office Properties, in the transaction. Re Gain Investment Fund LLC, a Virginia-based private real estate investment company, was the buyer.

Fountain Square III sits on a 6-acre site in the heart of the Westshore submarket. Originally developed by The Wilson Company in 1999 as a built-to-suit, the property has served as a main strategic service center for a global financial services firm for over 25 years. Located adjacent to Tampa International Airport within Fountain Square Office Park, the office building offers exceptional regional connectivity with immediate access to the State Road 60/Veterans Expressway interchange and Interstate 275.

“This property has been exceptionally maintained by the tenant and former owner,” said Peterson, Senior Vice President with CBRE. “The tenant’s investment-grade credit rating along with the building’s high-quality on-site amenities, above-market parking ratio and strategic in-fill location allowed us to drive interest from a diverse set of investors.”