IP Capital Partners Welcomes New Office Tenant in Tampa
- Mar 12, 2020
Florida Blue has signed a 49,500-square-foot lease at Airport Executive Center, a 235,700-square-foot office building in Tampa, Fla. The health insurance firm is relocating from Meridian One and will occupy the 10th and 12th floors, as well as a part of the ninth floor. Cushman & Wakefield represented the landlord, IP Capital Partners. JLL assisted the tenant with the negotiations.
Completed in 1985, IP Capital and Blue Vista Capital Management acquired the 13-story property in 2016. The landlord implemented a $5.5 million renovations plan in 2019, which included upgrades to the lobby, restrooms, elevators and cafe. Additionally, future improvements will include a 3,000-square-foot fitness center.
Airport Executive Center had an occupancy rate of 89 percent at the time of sale, with about 26,400 square feet of vacant space. Located on 3 acres at 2203 N. Lois Ave., the building is 2 miles from Tampa International Airport. The surrounding area includes several retail options, such as International Plaza, which is within walking distance of the property.
Cushman & Wakefield’s team included Senior Director Mercedes Angell and Director Lauren Coup. Brent Miller, managing director for JLL, represented Florida Blue.