Cushman & Wakefield Negotiates Sale of 42,250 SF Industrial Building
20 Aug, 2008, Tampa, FL
Cushman & Wakefield negotiated the sale of a 42,250 square foot single tenant industrial building in Clearwater, Florida for $3,570,000.
The property is located on Ulmerton Road, in Pinellas County.
Cushman & Wakefield’s Private Client Group – Associate Director Rick Brugge said, “High barriers to entry in land and construction costs continue to drive interest in income producing property in Pinellas County. With Pinellas being the most densely populated county in the state, the long term outlook for rent and income growth is strong.”
Executive Director - Mike Davis (Capital Markets), Associate Director - Rick Brugge, CCIM (Private Client Group), and Director - Rian Smith (Industrial Brokerage) negotiated the sale on behalf of the seller, Continental Business Development, Inc. The buyer was Cabot Properties, Inc.
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Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, and Consulting Services, including business and real estate consulting. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com.