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.”
