It was only a $500,000 deal in a 29,915-sf building for 5,607 sf, but Stuckey had to negotiate with two separate owners to get the transaction completed at the New Port Richey Financial Center, 4821 US 19 North in New Port Richey, just north of Tampa.
"We entered into negotiations with the landlord, just as the property was being marketed for sale," Stuckey tells GlobeSt.com. "We came to business terms with the first owner, and then had to renegotiate with the new owner."
After negotiating for the space in the two-story building, "we got to business terms and submitted lease comments--and the deal fell apart for the space," the broker says. Stuckey then showed representatives of H&R Block Eastern Tax Services division a larger suite across the court yard of the first property and closed the deal on the five-year lease.
The average asking rent at the 16-year-old, 21%-occupied New Port Richey Financial Center is $19.50 per sf. Matthew Shaw represented the owner, Tropical Realty and Investments of New Port Richey.
"In general, the New Port Richey market is a small office market with few choices for a financial services client," Stuckey tells GlobeSt.com. "High-quality, high-credit tenants are few and far between, so it should be a tenants' market, similar to the Tampa Bay region, which is the case."
In two separate sales transactions with a total value of $7.1 million, Colliers Arnold brokers John C. Dunphy and Alan Feldshue brokered the 75,000-sf, $4.8 million Tech Data Inc. flex office facility at Bay Vista Business Park in Clearwater to MedOffice Baycare LLC. The deal included the park's 5.87-acre site.
Dunphy and Feldshue also brokered the $2.3 million sale of the 32,000-sf office building in the ICOT Center at 14100 58th St. North in Clearwater. Dunphy represented the buyer, DGW Acquisitions of Clearwater. Feldshue negotiated for the seller, Gulf Atlantic Real Estate Group.
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