|Gross Leasable Area (GLA)||9,907 Sq.Ft.|
|Price Per Square Foot (GLA)||$274|
Marcus & Millichap is pleased to offer for sale, five ground floor retail units totaling 9,907 square feet and located at the most exclusive residential high-rise in downtown Tampa, Florida – known as Skypoint. Skypoint is a 33-story residential tower built in 2007 which houses 380 residential condos; often selling for the highest price per foot in the region.
Skypoint is conveniently located across from Curtis Hixon Park and the Stratz Performing Arts Center. With over 1,000 events and performances per year at these two venues and audiences of over 2,000 per event, Skypoint provides significant foot traffic and a regular customer base, allowing these retail tenants to thrive every night of the week.
Within the next five years, two additional residential towers will be constructed within two blocks of Skypoint, effectively doubling the residential population base within this dense cityscape to keep up with existing demand. The addition of these towers is expected to add to the already well diversified affluent population in downtown Tampa, increasing the demand for prime retail space.
In addition to the residential population in downtown Tampa, it is also home to the largest business and financial district in Tampa Bay with a major presence of Fortune 500 companies, including Bank of America, PNC, Wells Fargo, and Verizon. Within walking distance is the Tampa Convention Center, Amelia Arena (home to the NHL’s Tampa Bay Lightening and the AFL’s Tampa Bay Storm), Tampa Port (the largest port in the state of Florida), and Channelside (home to a millennial population of more than 5,000 residents).
Priced at just under $275 per square foot, this offering provides a unique opportunity for an investor to acquire an irreplaceable asset in the center of downtown Tampa, at a price per square foot below the cost of residential units in the same building. With rental rates in Tampa Bay on the rise and planned development in the pipeline, a new owner will be able to take advantage of substantial appreciation within a short hold period.