Steelbridge Eyes Pinellas County Office Park
An affiliate of Steelbridge Capital has acquired Park Place Office & Promenade, one of the most well-known office parks in Pinellas County.
An affiliate of Steelbridge Capital has acquired Park Place Office & Promenade, one of the most well-known office parks in Pinellas County.
The four-building Park Place Office & Promenade office complex is under new ownership.
Steelbridge II, Park Place LLC, an affiliate of Steelbridge Capital, has purchased the asset for an undisclosed price in a transaction brokered by Colliers International Tampa Bay Investment Services’ John Gerlach on behalf of the seller, who also remained undisclosed. The property was 96 percent occupied at the time of sale.
Built in 1985, Park Place includes a six-story, 118,447-square-foot office property and three single-story promenade-style assets of 50,221 square feet in total, located at 311, 410, 420 and 430 Park Place Boulevard in Clearwater. On-site amenities include a two-story, newly renovated marble lobby with landscaped interior, on-site management, an evening lobby attendant and 24-hour key card access.
The 17.3-acre landscaped, campus-style site fronts the key east-west artery of Gulf to Bay Boulevard and is centrally located between the key north-south arteries of U.S. Highway 19 and McMullen Booth Road—just ten minutes from Tampa International Airport, the Westshore office market and downtown Clearwater. The development is currently the only Class A office park in Northern Pinellas County.
Steelbridge will manage the property, acting jointly with the Tampa office of JLL. Colliers International Tampa Bay’s office team of Alan Feldshue and Melanie Jackson will continue to lease the property.