Historical Office Sale Listing - The Rasmussen College Building

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The Rasmussen College Building

SR 54 and Sunlake Boulevard, Lutz, FL 33558

N/A

25,609 SF | Office

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Office Property - Off Market

Price:
N/A
Building Size:
25,609 SF
Property Type:
Office
Property Sub-type:
Office Building
Property Use Type:
Net Lease Investment with
10+ years left on lease
Construction Status:
Under
Construction/Proposed
Cap Rate:
8.02%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
2011
Lot Size:
4.83 SF
Parking Ratio:
7.30 / 1,000 SF
Listing ID
16701359
Last Updated
over 1 year ago

Highlights

  • New Construction - Build to Suit for Rasmussen College scheduled for completion in early 2011
  • 110 Year Old Company with strong credit
  • Stability & Term - 12 year term with four, five year renewal options
  • Hot Sector - For profit education is a rapidly expanding sector of the economy
  • Location - At "Main & Main" for institutional office development in Pasco County, across from proposed T.Rowe Price
  • Expandable - the building is expandable to 35,000 sf providing flexibility to accommodate the future growth of the tenant

Description

This 25,609 rentable square-foot office building is located at the northwest quadrant of Highway 54 and Sunlake Boulevard. Scheduled for completion in early 2011, the one story building has an attractive and functional design which can accommodate multiple future uses including office, medical office, and retail. With frontage on Highway 54 and a superior 7.3 per 1,000 sf parking ratio the property is well positioned for long-term prosperity. The building is expandable to 35,000 sf to accommodate the future growth of Rasmussen College. However, the additional land associated with the 7.3/1,000 sf parking ratio will allow for expansion beyond 35,000 sf, and potentially up to 50,000 sf, providing additional developable value to the owner. Importantly, the Property's design is well suited to accommodate small, medium and large size users, a strategic advantage over most of its competition. In addition, there is immediate access to retail and restaurant establishments adjacent to this premier location.

The Rasmussen College building enjoys an unparalleled location in the absolute center of the developing Pasco County office market. Located across the street from the 450,000 sf future T. Rowe Price campus, this remarkable location is in close proximity to existing upscale housing communities and amenities including retail and restaurant establishments. This premier location provides convenient access to the Suncoast Parkway (Highway 417) providing quick access to Tampa International Airport, the Westshore business district and the Tampa CBD.

Map of SR 54 and Sunlake Boulevard, Lutz, FL 33558 (Hillsborough County)

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