Meridian Crescent Center - Riverview, FL
Meridian Crescent Center, purchased June 2016, is a 2 building, 89,440 rentable sq. ft. office and flex property with 306 surface parking spaces on 10.4 acres and located in Riverview, FL.
Business plan was to re-brand the property, construct pre-built space for immediate lease, and aggressively market the space as a low cost alternative to Westshore. Within 9 months (1 year ahead of schedule), increased occupancy to 91% from 35%, with strong interest in the remaining space.
Located 3 miles from the Westshore submarket in northwest Tampa, FL. Given rising land costs, local development has surrounded the property with retail and residential development creating an economic barrier of entry.