CLEARWATER, FL—Steelbridge Capital has traded a nearly 120,00-square-foot office building it acquired three years ago here.
Steelbridge Capital, which has offices in Coconut Grove, FL and Chicago, reports it has closed on the sale of 311 Park Place Blvd., a six-story, 119,015-square-foot office building within the Park Place Office Park that is nearly fully occupied. The deal marks the sale of the largest and the last asset of the four building office park to be traded by Steelbridge.
In 2015, Steelbridge and a joint venture partner acquired 311 Park Place for $22 million and since then has spent approximately $1 million on capital improvements at the property. In addition, the firm sold the Park Place portfolio's three single-story promenade-style assets totaling 50,221 square feet located at 410, 420, and 430 Park Place Blvd. for $8 million. CBRE's Dale Peterson, Zachary Eicholtz, Amy Julian and Courtney Snell represented Steelbridge in the 311 Park Place transaction. The capital improvement initiative at the property was overseen by property manager Jennifer Rebisz of JLL.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
