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Business Observer Friday, Jul. 7, 2017 9 months ago

Moffitt tweaking master plan post purchase

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Moffitt Cancer Center completed a master facilities plan last year as it rolled out an $800 million expansion that will likely be a decade in completing.
by: Kevin McQuaid Observer Staff

Moffitt Cancer Center completed a master facilities plan last year as it rolled out an $800 million expansion that will likely be a decade in completing.

But when 10901 N. McKinley Drive, a nearly 22-acre property across the street from its existing Tampa outpatient center came on the market, the opportunity was too good to pass up.

Jack Kolosky, Moffitt's COO, says the cancer center will likely use the property --┬ánow occupied by a 318,171-square-foot manufacturing facility — for research or a similar use.

“We're pretty sure we won't be using it for light manufacturing,” Kolosky says. “That's just not our business. But Moffitt continues to grow very rapidly, and as such, we're going to take another look at our entire campus and future needs.”

The single-story building, in the Tampa Industrial Park near the University of South Florida and the Florida Hospital Tampa, had been occupied for the past three decades by Sypris Electronics. Last year, Sypris sold off a pair of business units, prompting a relocation.

Building owner Sweetwell Industrial Associates L.P. Ltd. was represented in the $11.75 million sale by Cushman & Wakefield Executive Managing Director Mike Davis, Director Julia Silva Rettig and Associate Jessica Mizrahi.

Savills Studley Senior Vice President Cheri O'Neil negotiated on behalf of Moffitt.

“It's a wonderful long-term play for Moffitt as it considers future expansion,” O'Neil says.

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