Clearwater, Florida
Bank of America
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Transaction Details
1640 Gulf to Bay Blvd.
Clearwater, FL 33755
16,992 Sq. Ft.
PROPERTY TYPE
Retail/Office
Investment Highlights
- Opportunistic acquisition requiring a quick close
- High traffic location (52,500 VPD) on a large 2.26 acre lot
- Large site offered potential for future redevelopment
- Quick closing timeframe resulted in attractive purchase price and elevated cap rate for a property with a Bank of America corporate lease
- Cardinal Point handled all property management, asset management, and leasing for the property
- Sold to local private investor in a direct deal