Real estate investment firm, Avistone, based in Laguna Niguel, California has closed on the purchase of two business park in Tampa. The firm paid a combined $16.097 million for the properties consisting of 14 prime, light-industrial/flex buildings totaling 231,867 square feet. The first property, Bay Tec Center, was built in 1985 and is located within the Gateway/Mid-Pinellas industrial submarket at 2810-2880 Scherer Drive North in St. Petersburg. The second acquisition, The Airport Corporate Center, rests in the Westside/Airport submarket along the east side of Veterans Expressway on Benjamin Road in Tampa. Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller Calare Properties. “The Tampa Bay market is a core market for our team,” said Douglas K. Mandel, senior managing director Marcus & Millichap. “We are seeing a significant amount of investor interest in the market from South Florida and out-of-state.”
