Cushman & Wakefield successfully facilitated the sale of Meridian Concourse Center, a collection of three light industrial buildings located at 4400, 4600, and 4800 140th Ave. N in Clearwater. The final purchase price for this property was $19 million.
The team at Cushman & Wakefield responsible for this transaction included Rick Brugge, Mike Davis, Rick Colon and Chloe Strada who represented seller Albany Road RE Partners. Additionally, Jason Hochman and Ron Granite from Cushman & Wakefield helped secure $12 million in acquisition financing through Grant Street Funding on behalf of the buyer i3 Investors.
Meridian Concourse Center spans over 150,975 square feet and was almost fully leased at the time of sale to a diverse mix of tenants. Its strategic location along highly-trafficked Roosevelt Boulevard and 49th St. N provides excellent visibility opportunities as well as dock-high and grade-level loading configurations for its occupants. This property is also situated in one Tampa Bay’s most sought-after submarkets – Gateway/Mid-Pinellas area.
In an exciting development within the commercial real estate market,Cushman & Wakefield has successfully orchestratedthe saleof Meridian Concourse Center –a complex comprising three light industrial buildings situatedat4400 ,4600,and48001400th Ave.NinClearwater.The impressivefinal selling price reachedan impressive$19million.
The accomplishedteam behindthis deal includesRick Brugge,Mike Davis,Rick ColonandChloe StradafromCushmand&WakefieldeffectivelyrepresentingthesellerAlbanyRoadREPartners.JasonHochmanandRonGranitealso playeda pivotal roleby securingacquisitionfinancingworth$12millionthroughGrantStreetFundingonbehalfofthebuyer,i3Investors.
At present,the totalarea covered byMeridianConcourseCenteris150975squarefeetanditwas98%occupiedbyanassortmentoftenantsatthetimeofthesale.ThepropertyoffersgreatvisibilitytoRooseveltBoulevard and 49th St.N,whicharehighlytraffickedareas,andboastsoutstandingopportunitiesforsignage.Italsofeaturesdock-highandgrade-levelloadingconfigurations.ThisprimepropertyislocatedintheGateway/Mid-Pinellasarea,one ofTampaBay’smostcovetedsubmarkets.
This news was originally published on Connect CRE.
