Florida & Gulf Coast + Central Florida + Office | March 23, 2021

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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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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