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Bayside Center 2 Office Properties in Clearwater, FL
INVESTMENT HIGHLIGHTS
- Institutional-Scale Class A Office Campus: Two high-quality glass office buildings totaling 214,854 SF on an expansive 24.4-acre site.
- Immediate Lease-Up Value: Large contiguous blocks of vacant space across both buildings provide significant upside for a new owner.
- Exceptional Visibility & Access: Prime frontage along US-19 and immediate access to the Bayside Bridge and proximity to major employment hubs.
- Strong Anchor Tenancy: IAS occupies over 64,000 SF through 2030, and Sports Facilities Companies is committed through 2034.
- Attractive Pricing Relative to Replacement Cost: Expected pricing implies a basis far below the cost to build comparable Class A suburban office.
- Located in a Growing, Diversified Metro: The Tampa-St. Petersburg market continues to benefit from strong in-migration, and a diverse economic base.
EXECUTIVE SUMMARY
Bayside Center is a two-building, 214,854-square-foot Class A office campus situated on 24.4 acres along U.S. 19, one of Pinellas County’s most heavily trafficked and visible commercial corridors. The property features modern glass construction, structured parking, expansive and flexible floorplates, and a well designed, landscaped corporate campus environment.
The asset is currently about 69% leased to a diverse and well-established roster of regional and national tenants spanning healthcare administration, financial services, technology, and professional services. Long-term anchor tenants, including Insurance Administrative Solutions (IAS) and Sports Facilities Companies, provide durable in-place cash flow, while existing vacancies across both buildings present a clear opportunity for near-term leasing upside and tenant expansion. In-place NOI is over $2.1 million, with projected NOI of over $2.8 million in Year 3.
Strategically located minutes from the Bayside Bridge, Clearwater, St. Petersburg, and both St. Pete Clearwater International Airport and Tampa International Airport; Bayside Center offers exceptional regional connectivity and a highly accessible corporate address. The broader Tampa–St. Petersburg market continues to demonstrate strong fundamentals, supported by sustained population growth, corporate relocations, expanding medical office demand, and continued growth in technology and professional employment.
With its institutional scale, prominent visibility, diversified tenancy, and attractive basis relative to replacement cost, Bayside Center represents a compelling opportunity for investors seeking a stabilized income stream with meaningful value-add potential in one of Florida’s most resilient and dynamic office markets.
The asset is currently about 69% leased to a diverse and well-established roster of regional and national tenants spanning healthcare administration, financial services, technology, and professional services. Long-term anchor tenants, including Insurance Administrative Solutions (IAS) and Sports Facilities Companies, provide durable in-place cash flow, while existing vacancies across both buildings present a clear opportunity for near-term leasing upside and tenant expansion. In-place NOI is over $2.1 million, with projected NOI of over $2.8 million in Year 3.
Strategically located minutes from the Bayside Bridge, Clearwater, St. Petersburg, and both St. Pete Clearwater International Airport and Tampa International Airport; Bayside Center offers exceptional regional connectivity and a highly accessible corporate address. The broader Tampa–St. Petersburg market continues to demonstrate strong fundamentals, supported by sustained population growth, corporate relocations, expanding medical office demand, and continued growth in technology and professional employment.
With its institutional scale, prominent visibility, diversified tenancy, and attractive basis relative to replacement cost, Bayside Center represents a compelling opportunity for investors seeking a stabilized income stream with meaningful value-add potential in one of Florida’s most resilient and dynamic office markets.
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 214,854 SF |
| Number of Properties | 2 | Total Land Area | 31.58 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 214,854 SF |
| Total Land Area | 31.58 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Building II
17757 US Highway 19 N, Clearwater, FL 33764 |
Office | 168,353 SF | 1987 | - |
|
Building I
17755 US Highway 19 N, Clearwater, FL 33764 |
Office | 46,501 SF | 1987 | - |
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CONTACTS
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Madison Chung -
Douglas Mandel -
James Defusto -
Zachary Levine -
Cody Hershey -
Marcus & Millichap
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