The building is owned by Indianapolis-based Duke Realty Corp. John Fish and Jim Paladino, of Cushman & Wakefield, represented the tenant. Duke vice president, leasing Tim Hain represented the landlord.
"We chose to locate our Florida facility in the Tampa Bay area because several members of our management team have lived and worked there before. We know the quality of the available work force," says Virginia College Online president Stan Banks, who adds that the college plans to hire as many as 300 employees for the center over the next several years.
Banks says the new location is part of the college's growth strategy. "It is a key initiative in the growth of Virginia College Online as we expand to meet the needs of both our customer bases--our students and their eventual employers," he says.
The 97,000-sf Highland Oaks V office building, which opened a year ago, is 93% leased. It is located along Interstate 75 at the first exit south of Interstate 4. A Hilton Garden Inn is located on an adjacent site. The other buildings in the Highland Oaks park include the 124,597-sf Highland Oaks I, the 125,318-sf Highland Oaks II, the 99,738-sf Highland Oaks III and the 128,376-sf Highland Oaks IV.
"Highland Oaks V's access and visibility relative to Interstate 75 make it a perfect fit for Virginia College Online," Hain says.
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