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Presentation Title FOR SALE ~ FULL CITY BLOCK MIXED USE DEVELOPMENT OPPORTUNITY 602 E. CASS ST. DOWNTOWN TAMPA CBD Price: $5,950,000; $135/PSF SITE For more information, please contact: Jeannette Jason, CCIM Bruce K. Erhardt, ALC One Tampa City Center Director Executive Director Suite 3300 813 254 4900 813 223 6300 Tampa, Florida 33602 [email protected] [email protected] cushmanwakefield.com Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. FOR SALE ~ FULL CITY BLOCK MIXED USE DEVELOPMENT OPPORTUNITY 602 E. CASS ST. DOWNTOWN TAMPA CBD TAMPA HEIGHTS WEST RIVER SUBJECT PORT AUTHORITY TAMPA CBD VINIK Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. FOR SALE ~ FULL CITY BLOCK MIXED USE DEVELOPMENT OPPORTUNITY 602 E. CASS ST. DOWNTOWN TAMPA CBD PROPERTY INFORMATION • Location: 602 East Cass Street • Land Size: 44,100 SF; 210’ x 210’ • Zoning: CBD-2 / Site plan approved in 2007 PROPERTY HIGHLIGHTS • Easy access; located ¼ mile south of I-275/I-4 exit-entrance ramps. • Walking distance to many points of interest. • Excellent development opportunities include hotel, SITE office, mixed use and multi-family residential. • Situated along the city’s East-West Green Spine. • Located across from Perry Harvey City Park • Centrally located in CBD, surrounded by Ybor City, Channel District, West Tampa and Tampa Heights. Demographics 1 Mile 3 Miles 5 Miles Employees 51,823 105,009 196,546 Total Population 13,738 105,157 225,582 Total Households 5,588 44,776 93,838 Median Age 27.9 35.6 36.8 Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. FOR SALE ~ FULL CITY BLOCK MIXED USE DEVELOPMENT OPPORTUNITY 602 E. CASS ST. DOWNTOWN TAMPA CBD 2007 REDEVELOPMENT ENTITLEMENTS: • Project Area: 1.02 Acre • Zoning: CBD-2 • Proposed Site Use: • Retail: 7,566 SF • Office: 11,642SF • Residential: 369 units • Gross Building Area: 503,631 SF • Building Height: 36-story; 432’ • Parking Garage: 174’; 8 stories; 588 spaces DOWNTOWN TAMPA CBD MULTIFAMILY OVERVIEW • Current multifamily rents as high as $2.70PSF are the highest in the entire TampaMSA. • 1,154 multifamily units have been added in the last five years with 906 units under construction and another 1,867 units in development. • Condo sales are returning to historic levels with 2 bedroom units selling as high as $380 PSF. • Over 58,500 people report to work in Downtown Tampa and traditional suburban tenants such as Masonite, Allegiant, Jacobs Engineering and New England Life are moving to the CBD. RETAIL & AMENITIES: • Restaurants: 134 (81 serving dinner) • Grocery stores:1 • Drug stores: 1 • Retail stores: 50 • Fitness centers: 12 Renderings Per Entitlement Approvals • Banks/credit unions: 17 • Places offering WiFi: 87 TAMPA CBD OFFICE MARKET OVERVIEW • The Tampa CBD consists of 6.4 million square feet of officespace. • 58,500 people work in the CBD with 14% of these people living downtown. • At the end of Q3-2015, the vacancy rate in the CBD was 11.0%. • With no new construction, rental rates in the CBD are expected to rise as vacancy continues to decline. FOR SALE ~ FULL CITY BLOCK MIXED USE DEVELOPMENT OPPORTUNITY 602 E. CASS ST. DOWNTOWN TAMPA CBD Nearby Points of Interest Tampa Theatre, a city landmark named to the National Register of Historic Places in 1978, was built in 1926 as one of America’s most elaborate movie palaces. Stetson Law School Campus, Tampa Straz Center for the PerformingArts Heights / Downtown Tampa Florida’s first law school with its main campus in St. Petersburg, and a three story, 73,000 sf satellite campus located in Tampa Heights; enrollment of 906 students. University of Tampa Campus University of Tampa's Plant Hall was formerly Tampa Bay Ybor City: Named after Vicente Martinez Hotel, built between 1888 and 1891 as a 5-story, 511-room Ybor who built a prosperous cigar-making hotel topped by Moorish minarets, domesand operation first in Cuba, then in Key West, cupolas. This private university serves more than 8,037 and by the mid to early 1880's moved his undergraduate and graduate students. Plant Hall remains a cigar business to Tampa. Ybor City became symbol of the city and its history, and the foundation of a an eclectic mix of traditions, and earned the The Tampa Riverwalk and Historic 105-acre, 58-buildingcampus. nickname "The Cigar Capitalof the MonumentTrail: World". A 2.6 mile continuous waterfront corridor along the banks of the Hillsborough River and Garrison Channel linking five museums, seven parks and numerous hotels, restaurants and outdoor gatheringplaces. Encore: A 40+ acre mixed use redevelopment consisting of Vinik Development: A 30+ acre, $1 billion dollar multifamily, retail, office and hotel. proposed investment to include approximately three million square feet of commercial and residential development, including a USF College of Medicine building and USF Heart Health Institute. For more information, click here. Center for Advanced MedicalLearning & Stimulation (CAMLS): A 90,000 square foot, state of the art, three story facility offering world class education, training andresearch. Port Tampa Development: A proposed 45 acre Channelside Plaza: A residential and entertainment redevelopment to include over nine million square district with notable attractions including the Tampa feet of residential, retail, office, hotel, central park, Port Authority, Florida Aquarium, and Channelside marina, and multi-purpose cruise ship terminal; Plaza. $1.5 billion estimated investment. For more information, click here. Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. FOR SALE ~ FULL CITY BLOCK MIXED USE DEVELOPMENT OPPORTUNITY 602 E. CASS ST. DOWNTOWN TAMPA CBD SITE Related Nine 15 Skypoint Element Aurora 12.
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