SAN DIEGO–(BUSINESS WIRE)–Avistone, LLC, a real estate investment management firm specializing in the acquisition, improvement and management of light industrial and hospitality projects in major metropolitan markets, announced the sale of Veterans Technology Center, a 253,000 square foot, multi-tenant flex industrial park in Tampa, Florida.
Daniel Culler, CEO, of Avistone made the announcement. “This sale completes the successful disposition of the four properties in the Avistone Industrial Property Fund II, LLC, along with a total of 20 flex industrial parks with 4 million square feet of industrial space sold over the last two years,” notes Daniel Culler. “We are proud to have achieved the objectives 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.
About Avistone
Avistone is a real estate private equity and investment management firm involved in the acquisition and operation of flex industrial business parks and hotels nationwide. Since its founding in 2013, Avistone has acquired 27 hotel and industrial business park properties totaling more than four million square feet of space located in California, Georgia, Texas, Florida, Virginia and Ohio.
Contacts
David Sheets
(858) 480-5512
davids@avistone.com