Greystone, which manages skilled nursing and assisted-living facilities throughout Florida, plans to move from nearby Sabal Park into Four Highland Oaks during the current quarter, according to Duke Realty Corp., the building's owner. Its only other tenant, Moline, IL-based Nortrax Inc., signed a lease for 24,000 square feet in April.
Located at 4042 Park Oaks Blvd., Four Highland Oaks is one of five buildings totaling 576,000 square feet at Highland Oaks business park near Interstate 75. The park also includes a three-building, 450,000-square-foot corporate campus occupied by JP Morgan Chase.
Indianapolis, IN-based Duke Realty would not disclose additional details about Greystone's lease. The 128,376-square-foot Four Highland Oaks is now nearly 40% occupied.
Current vacancy rate in the I-75 corridor is just above 20%, exceeding Tampa's citywide rate of 18.6%, according to Cushman & Wakefield of Florida. Asking rents along I-75 are averaging $23.40 per square foot through the second quarter, slightly below the market average.
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