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NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1984
Building Area

Property Description

Urban Centre is comprised of two nine-story, multi-tenant office buildings encompassing 551,237 square feet located in the Westshore Submarket of Tampa, Florida. Designed by HKS Architects and constructed in 1984 and 1987, Urban Centre is one of the premier office developments within the Westshore Submarket.


The two buildings share a common lobby with the newly renovated Starwood Tribute branded marquis hotel, The Westshore Grand, which is not part of the Property. The exceptional on-site amenities include a rooftop executive membership/dining club, formal and casual sit-down restaurants, coffee bar, dry cleaner, hair salon, cigar and sundries shop, conference center, fully-equipped health club, full-service banking, auto detailing, covered unreserved and gated reserved parking, as well as highly visible monument signage.

Investment Highlights

Jones Lang LaSalle (“JLL”) is pleased to present the generational opportunity to acquire Urban Centre, a two-building Class A trophy office project, situated within the "Urban Suburban" Tampa office submarket of Westshore, one of Florida’s most coveted and institutional office submarkets. Totaling 551,237 net rentable square feet and 90.3% leased today, the landmark Property features an irreplaceable location, recent $3.5M capital infusion, best-in-class amenities, below market in-place rents, and 30% contractual NOI growth within the first 5 years.


Urban Centre, which is currently being offered significantly below replacement cost, represents one of the most sought after and highly regarded office buildings in the submarket, as well as in the entire Tampa MSA. The Property has outperformed the market by a meaningful margin in terms of both vacancy and executed lease deals, placing it in a prime position to further capitalize on the nation-leading demographics and office market fundamentals within Tampa over the coming years.

Last Updated Date: 16 Sep 2020
Hermen Rodriguez
Hermen Rodriguez
Senior Managing Director, Capital Markets
License details
FL-SL3018820
Matthew McCormack
Matthew McCormack
Director, Capital Markets

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Last Updated Date: 16 Sep 2020

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