President's Plaza is located just west of the Tampa International Airport and is comprised of two office/flex buildings at 4801 and 4803 George Rd. totaling 41,513 sf. Built in 1987, the property currently has 9,468 sf in vacancies. It features drive-in doors, a fire protection system and a parking ratio of four spaces per 1,000 sf.
Corporex Plaza is a 94,197-sf office/flex park with three buildings located at 3902 and 3904 Corporex Park Dr. and 6802 Lakeview Dr. The park currently has 26,283 sf in vacancies. Located at the southwest corner of the Interstate 4/Martin Luther King Jr. Boulevard interchange, the building offers easy access to Hillsborough and Pasco Counties. It features dock loading, drive-in doors and a fire protection system.
Major tenants in the portfolio include Honeywell, Lucent Technologies and Walgreens. CB Richard Ellis brokers Chris Riley and Brian Budnick, of the Atlanta office, and brokers Ginger Gelsheimer and Rick Klepal, of the Tampa office, represented the sellers in the transaction. The Leder Group represented itself.
"The portfolio provided a value-add opportunity due to the parks' locations in the fast-growing Westshore and East Tampa submarkets," Gelsheimer says. "The parks' excellent access to Tampa's major thoroughfares and the growing labor market will ensure that the portfolio will continue to thrive."
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