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Florida & Gulf Coast   /   March 23, 2021

David Cohen
By: David Cohen

IPA Arranges Sale of Five-Building Office Portfolio in Clearwater

Institutional Property Advisors has arranged the sale of Bay Vista Gardens, a two-property, five-building office/flex portfolio in Clearwater. The sales price was not disclosed.

The two properties, Gardens I and Gardens II, are located adjacent to each other within the Bay Vista Office Park, a 1 million-square-foot office park. Gardens I, which has three buildings, was built in 1988 and the two-building Gardens II was constructed in 1997. The properties are currently 94% leased.

Douglas Mandel and Jaclyn Blair of Marcus & Millichap’s Tampa office represented the seller, a joint venture partnership led by Ryan Cos., in the transaction. The buyer was a joint venture between Genet Property Group and Biscayne Atlantic.

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David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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