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Ally Capital Group Spends $18M for Five-Building Office Collection in Clearwater
Tampa, FL-based Ally Capital Group has completed its $18-million ($133 per square foot) acquisition of Bay Vista Gardens I & II, a single-story flex five-building office portfolio in Clearwater, FL.
Rick Brugge, Mike Davis, Rick Colon, Dominic Montazemi, Alex Sulte and Zach Eicholtz of Cushman & Wakefield represented seller GBA 135 LLC, a joint venture between Genet Property Group and Biscayne Atlantic that purchased the property in March 2021 for $14.6 million.
“Since the pandemic began, single-story office product has outperformed the market as tenants seek to control their own air quality and common areas,” said Brugge.
Bay Vista Gardens I & II totals 135,221 square feet amid its five buildings on Rio Vista Drive. The office portfolio was more than 94% leased at the time of sale by tenants in the technology, legal, engineering and research industries.
Bay Vista Gardens I & II is located within the 20-building Bay Vista Business Park.
- ◦Sale/Acquisition
