Avistone announced today it has acquired the 589 Business Center, a 251,726 square foot flex industrial park located in Tampa, Florida. The Property is the fourth acquisition for the firm’s Avistone Industrial Property Fund II and is the fifth flex industrial project the firm manages in the Tampa industrial market. Avistone plans to re-brand the Property as the Veterans Technology Center.
Veterans Technology Center is centrally located on 20 acres in the Westshore submarket, adjacent to major transportation throughfares and 5-minutes from the Tampa International Airport providing convenient access from Tampa, Pinellas County and all major MSA’s in the southeastern United States.
Completed between 1983 and 2001 the complex is leased to a diverse mix of local and national tenants. The combination of modern on-site amenities, a park-like setting, and tenants seeking single-story exclusive use space has resulted in leasing demand that has outpaced the market.
This latest addition brings Avistone’s assets under management (AUM) to 20 flex/industrial properties totaling nearly 3.5 million square feet in Georgia, Ohio, Texas, and Florida.
“The addition of Veterans Technology Center to our portfolio of industrial parks in the Tampa market continues our focus of growing Avistone’s footprint in the flex/industrial sector in major metropolitan markets nationwide,” said Richard Kent, President and Managing Principal of Avistone.
Avistone is currently seeking properties to add to their portfolio. The company targets stabilized and value-add multi-tenant, flex/industrial parks with more than 100,000 square feet in growing metropolitan markets throughout the U.S. ranging from $10 million to $250 million.
About Avistone, LLC
Founded in 2013, Avistone is a commercial real estate investment firm specializing in the acquisition and operation of multi-tenant industrial and business parks nationwide. The company offers accredited investors the opportunity to purchase equity shares in its properties. Avistone owns and operates nearly 3.5 million square feet of industrial space in Georgia, Ohio, Texas, and Florida.