Dept. of Veterans Affairs Renews Lease in Tampa

The government agency will continue to occupy office space at the 67,916-square-foot property for another 10 years.
Grand Oak Plaza
Grand Oak Plaza. Image courtesy of The RMR Group

The U.S. Department of Veterans Affairs has renewed its 11,090-square-foot lease at Grand Oak Plaza, a 67,916-square-foot office building in Tampa, Fla. Joseph Brennan of JLL assisted landlord Office Properties Income Trust in negotiating the 10-year contract.

According to Yardi Matrix data, OPI has owned the Class B asset since 2010, when the REIT purchased it for $13.5 million from Capital Realty Investors.

Located at 8900 Grand Oak Circle in the Northeast submarket, the property features 22,639-square-foot floorplates and a parking ratio of 3 spaces per 1,000 square feet. Developed in 1984 on 5.7 acres and renovated in 2008, the three-story office building is currently fully occupied. The RMR Group is the asset’s property manager.

Grand Oak Plaza is 16.5 miles from downtown Tampa near Interstate 75, within walking distance of James A. Haley Veterans’ Hospital. 

The RMR Group currently manages more than 1,400 properties totaling more than 97 million square feet of commercial office, industrial, medical office, life science and retail space. The firm recently signed a full-building lease renewal for one of its Houston assets.