Avistone Announces the Sale of Veteran’s Technology Center

By The Avistone Team | Jul 11, 2022 News
Veterans Technology Center

Avistone Announces the Sale of Veteran’s Technology Center Near Tampa International Airport to Close out the Avistone Industrial Property Fund II.

Avistone announced the sale of Veterans Technology Center, a multi-tenant flex industrial park located on Beaumont Center Boulevard within one mile of the Tampa International Airport. The property includes 11 buildings totaling 253,000-square-feet situated in the centrally located Westshore/Airport submarket, considered one of Tampa’s tightest and most densely developed infill industrial areas.

Avistone sold the property to Arden Logistics Parks a logistics real estate operating platform launched by the Arden Group and specializing in the acquisition, improvement and property management of light industrial business parks across the country. Avistone first acquired the property in late 2020 from a local Tampa ownership group and invested significant capital to stabilize leasing, taking occupancy up from 80% to nearly 92%.

“This sale completes the successful disposition of the four properties in the Avistone Industrial Property Fund II, LLC and a total of 20 flex industrial parks sold over the last two years.” notes Daniel Culler. “We are proud to have delivered on our flex industrial strategy for our investors, tenants and stakeholders over the last 9 years.”

Veterans Technology Center has enjoyed strong leasing activity over the last 18 months, increasing occupancy by 24,853 square feet through seven new leases as well as 16 renewals and expansions by existing tenants. The diverse portfolio features 48 shallow-bay and flex suites with an average size of 4,778 square feet, offering the ability to accommodate both small and larger tenants.

Since its founding in 2013, Avistone has acquired and managed more than 4 million square feet of value-add flex industrial and hotel properties in California, Texas, Georgia, Ohio Virginia and Florida and delivered an average annualized total return of 16.27%.

To learn more about how you can benefit from Avistone’s real estate offerings, view our commerical real investment oppuritnites here.

© 2024 Avistone, LLC. All rights reserved.

*IMPORTANT DISCLOSURES: This communication is intended exclusively for the private and confidential use of accredited investors. It is transmitted by the sponsor of the investment opportunity, Avistone, LLC, or one of its affiliates (referred to as "Avistone" or "Sponsor") and is provided solely for informational purposes. All information and opinions contained herein, including assumptions and projections (collectively referred to as "Projections"), are furnished by the Sponsor. The Sponsor and its affiliates make no representations or warranties regarding the accuracy of such information and disclaim any liability in this regard. None of the content in this communication is intended to create a binding obligation on the part of the Sponsor or its affiliates. This communication is fully qualified by reference to the comprehensive information regarding the offering set forth in the Sponsor's offering documents, including any private placement memorandum, operating agreement, and subscription agreement (collectively referred to as "Offering Documents"), which should be carefully reviewed before making any investment.

The Projections provided by the Sponsor, including target IRR, target cash-on-cash, and target equity multiple (referred to as "Targets"), are hypothetical and are not based on actual investment results. They are presented solely to provide insight into the Sponsor's investment objectives, outline anticipated risk and reward characteristics, and establish a benchmark for future evaluation of the Sponsor's performance. The Sponsor's Projections and Targets do not constitute predictions, projections, or guarantees of future performance. There is no assurance that the Sponsor will achieve these Projections or Targets. Forward-looking statements, including the Sponsor's Projections and Targets, inherently involve a variety of risks and uncertainties, and actual results may substantially and materially vary from those anticipated. Refer to the applicable Offering Documents for disclosures concerning forward-looking statements. Projections and Targets, including forward-looking statements, should not be the primary basis for an investment decision. Avistone and its affiliates do not provide any assurance regarding returns, or the accuracy or reasonableness of the Projections or Targets provided by the Sponsor. Past performance does not predict future results. The historical performance record of Avistone is not indicative of future outcomes. Third-party audits have not been conducted on the performance of Avistone's prior projects. Differing property offerings and commitment dates for individual property offerings resulted in varying returns for investors.

The metrics of the Full-Cycle Track Record on industrial properties are calculated based on weighted averages that treat investment dollars equally and are computed by aggregating the outcomes of all Avistone full-cycle industrial property investments, with weights corresponding to the respective capitalization amounts for each Full Cycle Investment. This real estate investment is speculative and involves substantial risk. There is a potential for a partial or complete loss of principal investment and should only be undertaken if you are prepared to bear the consequences of such a loss. Thoroughly review all of the Sponsor's Offering Documents, including any "Risk Factors" therein. For additional information concerning risks and disclosures, please visit https://www.avistone.com. None of the content in this communication should be considered investment advice, whether regarding a specific security or an overall investment strategy. Reproduction or distribution of this message to any individual or entity outside the recipient's organization is prohibited without the express consent of Avistone.