Avistone Acquires Flex/Office Business Center in Tampa, Florida

By David Sheets | Feb 18, 2021 Blog / News / Portfolio
Commercial Real Estate Investment in Tampa FL

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.

*Important Disclosures:

This communication is intended solely for accredited investors as such is defined in the Securities Act, and is not intended as an offer to sell, or the solicitation of an offer to buy any securities or ownership interests. The opinions and forecasts expressed herein are solely those of Avistone, LLC, as of February 24, 2023, and subject to change. Actual results, future events, predictions, circumstances and events will vary and be different from those set forth herein, and there are no guarantees that any positive or successful results, express or implied, by investors will be realized. Avistone specifically disclaims any right or obligation to provide investor returns at forecasted levels. Avistone’s track record from 2013 to December 2022; no guarantee of future results. The performance information of Avistone’s prior projects has not been audited by any third-party. The track record metrics reflect the weighted average performance of all our clients, and not every investor experienced exactly these same returns. Any and all evaluations for investment purposes must be considered in conjunction with a final Private Placement Memorandum (the “PPM”); all prospective investors are strongly encouraged to read all “risk factors” in the PPM. Further, some of the initial information provided above contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve numerous risks and uncertainties, and investors should not rely on them as predictions of future events. Investments in private securities contain a high degree of risk and often have long hold periods. They are illiquid and may result in the loss of principle. Avistone’s strategy may not occur due to numerous external influences.