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Regency Corporate Center

  • $15,000,000/($124 PSF)
Brandon, Hillsborough County, Florida, 33510, United States, ,
Sale

Regency Corporate Center

Brandon, Hillsborough County, Florida, 33510, United States, ,
  • $15,000,000/($124 PSF)

Description

CBRE, as exclusive advisor, is pleased to present the opportunity to acquire 636 Grand Regency (the “Property” or “Buildings”), a ±9.25-acre site improved with a 120,756 SF three-story vacant office building featuring a market-leading 7.2 per 1,000 SF parking ratio. The Property most recently served as HSBC Finance Corporation’s consumer mortgage lending servicing support center. This asset provides an excellent opportunity for an owner/user to acquire a Class “A” corporate headquarters facility in one of East Tampa’s premier amenity-rich environments.

636 Grand Regency is located within Regency Corporate Park, a 120-acre mixed use business park that features a plethora of restaurant, shopping, hotel, and residential amenities in proximity. The Property benefits from 450 linear feet of direct frontage onto Interstate 75 (141,000 AADT), which offers visibility and attractive signage options for a future occupier. This location is strategic in that the State Road 60 exit to Interstate 75 is just two exits south of Central Florida’s most important highway interchange – the confluence of Interstate 75 and Interstate 4. The Property offers unmatched access to roughly 4.3 million people living within a one-hour commute of the Property. Furthermore, it is also only 15- and 30-minutes east of Downtown Tampa and Tampa International Airport, respectively.

The I-75 Corridor is home to many of Tampa’s largest corporate tenants, including MetLife, USAA, T-Mobile, J.P. Morgan Chase, Johnson & Johnson, Verizon, Citibank, and Progressive Insurance. A big draw for companies to locate within the area are the abundance of residential communities to serve the local labor force. Target communities include Brandon, Bloomingdale, Valrico, Fish Hawk, New Tampa, and Wesley Chapel. In addition, East Tampa features a robust, dense retail market. The Property features exceptional proximity to numerous retail destinations such as Regency Square, Westfield Brandon Town Center, Plaza at Brandon Town Center, and Lake Brandon Plaza, all of which are just minutes away.

PREMIER CORPORATE HEADQUARTERS SOLUTION

  • High-profile asset ideal for corporate relocation into one of the nation’s hottest MSA’s


STEEP DISCOUNT TO REPLACEMENT COST

  • Commercial construction costs continue to soar, giving those with superior cost basis a clear advantage over new construction.
  • 636 Grand Regency offers an investor the opportunity to buy an existing office asset at a price point that is significantly below current replacement costs of $330 PSF. 

CLASS “A” DESIGN SPECIFICATIONS

  • Center-core configuration offering flexibility for multiple layout configuration
  • ±40,000 square foot floorplates, accommodative to large corporate users
  • 10’ ceiling heights
  • Ability to establish on-site amenities (café, fitness center)
  • Significant redundancy via two (2) 1,000 kW generators that power the entire Building

SURFACE PARKING RATIO OF 7.2 PER 1,000 SF

  • The Property features 868 parking spaces, or a 7.2 per 1,000 SF parking ratio – One of the highest among its peers. 

CONVENIENT ACCESSIBILITY 

  • Access to over 2.8 million people (88% of Tampa MSA) within a 45-minute commute from the Property.
  • Notable large employers located along the I-75 Corridor include:
    • USAA
    • MetLife
    • Verizon
    • JP Morgan Chase
    • Johnson & Johnson
    • Spectrum
    • Citibank
    • Progressive Insurance
    • Holland & Knight
  • Visibility to over 141,000 daily commuters along Interstate 75
  • 15-minute commute to Downtown Tampa and 30-minute commute to Tampa International Airport.
  • Surrounded by East Tampa’s plethora of retail amenities and service centers:
  • Regency Square, Westfield Brandon Town Center, Plaza at Brandon Town Center, Lake Brandon Plaza

PROVEN OFFICE MARKET RESILIENCY

  • Per the U.S. Bureau of Labor Statistics, Tampa’s unemployment rate is at 2.7% as of July 2022, 100 basis points lower than the current U.S. average of 3.7%.
  • Tampa ranked 9th among U.S. markets for Tech Talent growth over a five-year span from 2016-2020.
    • Tampa was only one of nine markets in the U.S. to witness a positive “brain gain” during this period with 10,250 new jobs.
    • It is estimated that Tampa technology firms can expect a savings of ~38% below the top cost market (SF Bay Area).
  • The East Tampa office submarket represents just 4% of the total rentable square feet available for sublease in the Tampa market. 
  • Tampa is the #1 emerging tech city in the U.S. – Forbes, 2021

Call Dale for more information at +1 (813) 273-8409.

  • Address 636 Grand Regency Blvd
  • Zip/Postal Code 33510-3942

Details

Updated on September 20, 2022 at 5:40 pm
  • Price: $15,000,000/($124 PSF)
  • Property Size: 120756 sq ft
  • Year Built: 2000
  • Property Type: Commercial
  • Property Status: Sale

Overview

  • Commercial
  • Property Type
  • 120756
  • sq ft
  • 2000
  • Year Built

Contact Information

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Dale Peterson

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