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Commercial Real Estate
Business Observer Friday, Nov. 8, 2019 1 week ago

Maryland company buys Tampa office and industrial complex

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Park 6 had been part of the Tri-County Business Park
by: Kevin McQuaid Commercial Real Estate Editor

A Timonium, Md.-based real estate investment firm led by the former CEO of a real estate investment trust has acquired a six-building office and industrial project in Tampa for $15.83 million.

Tampa Park 6 LLC, a group led by former Corporate Office Properties Trust CEO and KMS Group President Roger Waesche, acquired the Park 6 property from an entity controlled by Birtcher Anderson Realty, of California, records indicate.

The 184,500-square-foot complex, on roughly 25 acres at 11902-12402 Race Track Road, was 91% occupied at the time of the sale. Following its late 2017 purchase of the 20-building Tri County Business Park for $40.4 million, Birtcher Anderson carved out Park 6 and rebranded it to bolster its identity as a separate business hub.

The Westchase deal marks the first in the Tampa Bay area for a company led by Waesche, who retired in 2016 from Corporate Office Properties, a Columbia, Md., real estate investment trust. Waesche also led KMS Group, a development company that was acquired in the early 1990s by Baltimore Gas & Electric Co. and subsequently became Constellation Properties.

Erika Zipfel Matscherz of the Dikman Co., a Tampa commercial real estate brokerage firm, represented Tampa Park 6 in the transaction, while Colliers International Tampa Bay Executive Managing Director of Industrial Services Ryan Vaught and Director Robin Hurrell negotiated on behalf of Birtcher Anderson.

Colliers International also arranged debt financing for Tampa Park 6.

In the wake of the acquisition, Tampa Park 6 has hired commercial real estate brokerage firm JLL’s Executive Vice President John Dunphy, Vice President Hans Kaunath and Associates Peter Cecora and Scott Claiborne to lease the property.

Tampa Park 6 officials did not return a telephone call for comment on the acquisition or future plans for the business park.

 

 

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