Commercial Partners Realty Completes Record Year

It’s been a very successful year for Commercial Partners Realty. This year we closed nearly $21 million in transactions totaling over 350,000 square feet of commercial space. Our agents are poised to continue this momentum into 2016. The Tampa Bay market supports our optimism.

Overall vacancy rates in the Tampa Bay commercial markets have been decreasing throughout 2015 while lease rates for office and industrial properties have steadily increased, despite a small drop in retail lease rates.

Continuing positive absorption in the office, retail and industrial markets and unusually steady summer activity has built momentum that we expect will carry well into 2016. Strong demand for large industrial spaces is pushing new development. Meanwhile, low office vacancy combined with a lack of parking in the prime downtown areas is leading to an increased interest in suburban markets with lower rates and better parking options.

The area’s economic recovery has done much to help the commercial real estate market. Unemployment rates in Tampa Bay have been steadily declining since this summer. Leisure and hospitality industries experienced the largest employment gains in the area with the first half of 2015 seeing a record number of tourists visiting Florida. Tampa Bay has experienced high job growth in 2015, adding nearly 33,000 jobs this year with more expected as several major companies (Accusoft, BlueGrace Logistics, ReliaQuest) move into the area and Lufthansa adds a non-stop air route between Tampa and Frankfurt.

We have thoroughly enjoyed helping all of our clients the past year and look forward to serve Tampa Bay’s commercial real estate needs in 2016 and beyond. 

Recent Real Estate Transactions of the CPR Team

Commercial Partners Realty agents recently completed a number of transactions.

CPR Broker and President Scott Clendening represented Bay West Real Estate Co. in the sale of the Bay West Center, which sits on 1.7 acres at 7901 4th Street N, St. Petersburg. The 35,000 SF Office building sold for $3,100,000 to Bay West Center, LLC.

Erik Anderson brokered a lease between Bay West Real Estate Co. and Bessolo Design Group for 10,920 square feet of the 35,000 SF office building located at 7901 4th Street N., St. Petersburg. The $870,000 transaction brought the Bay West Center to over 91% occupancy before the sale of the property.

CPR Team members Erik Anderson and Josh Dohring represented the landlord, B & L Management, in the lease of 1,440 SF of office space to Carousel Industries at Southpointe at Breckenridge. The East Tampa office is located at 5650 Breckenridge Park Dr.

Broker Scott Clendening represented the landlord, Boos Development Group, in the lease of a 5,000 SF office building located at 2651 McCormick Drive in Clearwater. The property was leased by Elite Insurance Partners.

Erik Anderson represented the landlord, Starkey Road Investment #1, LLC, in the lease of 1650 Starkey Rd., Largo. Consolidated Electrical Distributors leased the 13,080 SF industrial building.

Dan Quarles represented the landlord, Arlington Business Records Management, Inc., and Scott Clendening represented the tenant in the lease of a 5,300 SF space in St. Pete’s Warehouse Arts District to Edwin Bailey Antiques. The space is located at 2010 1st Avenue S., St. Petersburg.

Flying Boat Brewing Company Joins St. Pete’s Craft Brew Scene

Flying Boat Brewing Company recently purchased an 11,000 square foot distribution warehouse located at 1776 11th Avenue N., St. Petersburg, FL from TW Tampa, LLC. Commercial Partners Realty agent Erik Anderson represented the seller in the transaction. The fully air conditioned industrial building sits on a three quarters of an acre lot located near downtown St. Petersburg and sold for $712,000.

Flying Boat is a recent addition to St. Petersburg’s fast-growing craft brewery scene. It is named after the aircraft used for the world’s first ticketed flight, which originated in St. Pete FL. They are the fourth brewery that Erik and Commercial Partners Realty have helped to find a home in St. Petersburg, in the past year.

Escape Room Concept Opens in St. Pete’s Warehouse Arts District

Commercial Partners Realty agent Daniel Quarles represented landlord, Arlington Business Records Management in the lease of a 5,000 SF space in St. Pete’s Warehouse Arts District to Outer Life, Inc., an entertainment company. The space at 1942 2nd Avenue South will be the new home of Escape Room. This location is in the heart of St. Petersburg’s Warehouse Arts District, adjacent to the Pinellas Trail.

Escape rooms are a popular new gaming concept, in which teams of 2 to 8 players work together to solve clues and escape a locked room before time runs out.

Commercial Partners Realty Welcomes Bo Valdes to the CPR Team

Commercial Partners Realty, Inc. is pleased to announce that Robert "Bo" Valdes has joined our team as a sales associate specializing in Office and Retail sales and leasing. Bo comes to the CPR Team with over 10 years of experience in commercial real estate research, property management, sales and leasing. Bo will be focusing on sales and leasing of retail and office properties in the Downtown St. Petersburg area.

Throughout his career, Bo has successfully completed assignments for local and institutional clients in several major U.S Cities. His diverse background in all aspects of commercial real estate provides a unique perspective to office and retail building owners in Downtown St. Petersburg.

Mr. Valdes delivers value to his landlord clients through his vast market knowledge and meticulous reporting. He consistently strives to exceed his client’s expectations at every opportunity. A talented strategist and negotiator, Bo is an expert at identifying locations that fit his tenant clients’ financial and operational requirements while negotiating best-in-market lease terms. By leveraging CPR’s research capabilities, lease administration and local expertise, he ensures his clients optimize their real estate requirements.

CPR Team Member Frank Bozikovich Brokers Sale of St Pete Retail & Gibsonton Land Assemblage

Commercial Partners Realty agent Frank Bozikovich represented the seller Rokko, Inc. in the sale of a 10,464 SF Retail Plaza at 4102 34th Street S., St. Petersburg, FL to Venture Capital Alliance. The plaza, anchored by Pinch-a-Penny Pool and Spa, is located in the newly designated Skyway Marina District of South St. Petersburg. It sold for $900,000.

In a separate transaction, Frank Bozikovich also represented the sellers Robert & Marilyn Eaken, Ann Floyd and Jane Baxter in the sale of a 4.36 Acre land assemblage located in Gibsonton, FL. The assemblage, which faces the Super Walmart on Gibsonton Drive was purchased by Circle K Stores, Inc. for $630,000.

CPR Team Tours Tampa Bay With eBoats Tampa

Commercial Partners Realty agent Josh Dohring took the CPR Team on a boat tour of Tampa Bay to discuss the state of Tampa's commercial real estate market. Josh owns eBoats Tampa, an electric boat rental ranked #1 in TripAdvisor's Outdoor Activities.

As well as being a great way to spend the afternoon, eBoat Tampa offers the city a chance to showcase the downtown waterfront to potential businesses considering a move to Tampa Bay. They offered the CPR Team a relaxing backdrop to an important discussion about Tampa commercial real estate and a chance to take some beautiful photos of the area.

Commercial Partners Realty Closes $5 Million in Transactions in the 1st Week of April

Commercial Partners Realty agents completed three transactions totaling five million dollars last week.

Broker Scott Clendening represented the seller, Schoolhouse Finance, in the sale of the former Imagine School to The Trish Joy Collection. The 34,000 SF former charter school is located on 1.41 acres at 1901 Central Avenue, St. Petersburg, FL. The property sold for $3,200,000.

CPR Team members Dan Quarles and Scott Clendening represented the seller, 5301 Diana, LLC, in the sale of a 23,600 SF freezer facility located at 6408 53rd Street in Tampa, FL. The facility, which sits on 4.5 acres of land, sold for $1,500,000 to Hemingway Development, LLC, an Ohio company.

Erik Anderson, CCIM represented sellers Vaun and Cheryl Myers in the sale of an industrial building located at 1942 1st Avenue S., St. Petersburg to Action Real Estate Investments, Inc., a New York corporation. The property sold for $300,000.

Commercial Partners Realty is a full service Commercial Real Estate brokerage specializing in Office, Industrial, Retail and Investment leasing and sales. Representing landlords, tenants, buyers and sellers of commercial real estate in Tampa Bay and West Central Florida, they have transacted over two hundred of million dollars of real estate.

Recent Transactions from the CPR Team

Commercial Partners Realty is pleased to report the recent completion of the following commercial transactions.

CPR Team member Erik Anderson represented the seller Advanced Orthopedics in the sale of a 12,500 SF office building located at 3250 5th Avenue N., St. Petersburg to the SPCA. The property sold for $936,000

Retail Specialist, Frank Bozikovich represented landlord Susanne Holian in the lease of a 5,111 SF restaurant in the newly formed Skyway Marina District of south St. Petersburg. The tenant, Skyway Diner, will be opening the new breakfast and lunch diner at 4000 34th Street S.

Broker Scott Clendening represented Morgan & Morgan Attorneys at Law in the purchase of a 5,559 SF office building from Frank & Nancy Bagnasco. The office, located at 5544 Central Ave., St. Petersburg will be the newest branch of the law firm. The property sold for $580,000.

CPR agent Dan Quarles represented tenant BMX-Ray in the lease of 10,000 SF of industrial space at 12420 73rd Court, Largo. BMX-Ray repairs and services medical imaging equipment.

Team member Josh Dohring represented the landlord, Stoneman's Statueland in the lease of an 18,900 SF lot to Denning's Towing. Frank Bozikovich and Erik Anderson represented landlord 333 Capital, LLC in the lease of a 2,044 SF Office located at 4901 First Ave N., St. Petersburg to attorney Christina Battaglia Xenakis.

Dan Quarles represented landlord John Farese in leasing a total of 4,400 SF of industrial/flex space at 1942 2nd Avenue S., St. Petersburg to tenants Krazy Kardio and Crossfit I & I.

Dan Quarles also represented the tenant Crossfit Imbue in the lease of 2,400 SF of Retail/Flex space located at 5512 Haines road from Arvana, Inc.

Dan Quarles represented the seller, 1411 Sixteenth St., LLC in the sale of a 2,109 SF office building located at 1411 16th Street N., St. Petersburg to Belfsky and Arroyo Properties. The building sold for $180,000.

Josh Dohring Joins the CPR Team

Commercial Partners Realty, Inc. is pleased to announce that Josh Dohring has joined our team as a sales associate specializing in Commercial Sales and leasing. Josh comes to the CPR Team with over 8 years of experience in commercial real estate sales and leasing. Josh will be focusing on redevelopment opportunities and leasing transactions in the Tampa area.

Josh was previously a principal with the Dohring Group in Tampa and is very active in the Tampa Bay commercial real estate and business communities. He is currently a member of the Real Estate Investment Council (REIC), the Downtown Partnership and the Florida Gulfcoast Commercial Association of Realtors. Josh also serves on the board of the Tampa Attractions Association as well as on various committees for Visit Tampa Bay.

In addition to a degree in Marketing from Florida State University and 10 years of Sales and Professional Training, Josh is continuing his commercial real estate education in order to reach the designation of Certified Commercial Investment Member (CCIM). His commitment to professional development and to the Tampa Bay business community make Josh an exciting addition to the CPR Team.

Commercial Partners Realty is a full service Commercial Real Estate brokerage specializing in Office, Industrial, Retail and Investment leasing and sales. Representing landlords, tenants, buyers and sellers of commercial real estate in Tampa Bay and West Central Florida, they have transacted over two hundred of million dollars of real estate.