Meridian 589 - Tampa, FL
Meridian 589 is an 11-building, 51% leased, 252,235 rentable sq. ft. Class B office park with 1,008 parking spaces on 19.7 acres and located in Tampa, FL. It was purchased March 2017 after a protracted owner/lender legal battle which created tenant uncertainty.
The business plan included quickly increasing rental rates, improving signage and landscaping, and completing capital renovations of each building inclusive of pre-built suites for immediate leasing. Occupancy improved from 50% to approximately 65% upon completion of renovvations.
Excellent Westshore office-space alternative and located on the border of the Westshore office market, immediately off the Veterans Expressway, and adjacent to the northwest corner of Tampa International Airport.