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Ally Capital Group has acquired Bay Vista Gardens I & II office portfolio in Clearwater, FL for $18 million.

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.


Inside The Story

Cushman & Wakefield's Brugge

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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