Savlan Capital buys Bradenton Financial Center for $14.95m

Savlan Capital buys Bradenton Financial Center for $14.95m

Published at: 2019-06-10 15:47 | Author: CIJ USA
Savlan Capital purchased the Bradenton Financial Center for $14.95m. Built in 1986 just south of Tampa, the center offers 116,839 sq ft of class A office space on 12 floors as well as a cafe on the ground floor and a five-story parking garage accessible via a skybridge from the main structure. The center, the tallest building in Bradenton, was 90 percent leased at the time of the sale to tenants like Workforce Business Services, Fisher-Rosemount Systems, Bank of America, Merrill Lynch and Morgan Stanley. Savlan Capital is planning to make exterior renovations and common area improvements. Cushman & Wakefield brokered the deal.

“Bradenton Financial Center was an ideal match for our investment strategy,” said Savlan Capital CEO Zusha Tenenbaum. “We look for class A properties that present value-add opportunities in great locations with a sustainable and well-diversified tenant base. This asset met all those criteria with an irreplaceable location, a strong tenant mix, below-market rents and room for occupancy growth.”

Similar Stories:

Viking Partners acquires Jacksonville office complex for $35.8m
Viking Partners has closed on the purchase of a Class A office park in Jacksonville. The f  »
Endurance sells Colwick Business Center in NJ
A joint venture between Endurance Real Estate Group and Blue Vista Capital Management have  »
One Tower Center in New Jersey sells for $38m
American Equity Partners has paid $38m for the One Tower Center in East Brunswick, New Jer  »
Strategic Real Estate secures $53.6m to buy New Jersey offices
Strategic Real Estate has secured a $53.6m loan to finance the acquisition of an office bu  »
“Steady,” “healthy,” “robust” and even “outperformed” were some of the adj   »
Orlando’s economic prospects haven’t looked so positive in ages. Not only are Florida   »
From the north to the south of Florida, occupancy rates of the largest office towers are r   »
Tampa mayor Bob Buckhorn was on hand at the groundbreaking ceremony as a show of support f   »