Birtcher Anderson sells Park 6 industrial park for $16 million

Park 6 property photo

The 184,500-square-foot property sold in Westchase

Birtcher Anderson sells Park 6 industrial park for $16 million

TAMPA, Fla. (October 11, 2019) – Birtcher Anderson, an Orange County, California-based real estate investment firm, has sold Park 6, a 184,500-square-foot flex industrial property in the Westchase area of Tampa, for $15,832,000.

Park 6 was previously part of the 700,000-square-foot Tri County Business Park that Birtcher Anderson purchased for $40.4 million in December 2017. The property was subdivided for sale and includes six of Tri County Business Park’s 20 buildings.

Ryan Vaught and Robyn Hurrell, MCR, of Colliers International Tampa Bay represented Birtcher Anderson in the sale. Nathan Lynch, Executive Managing Director of the Colliers International Tampa Bay’s Debt & Equity team placed the debt for the acquisition.

“When Birtcher Anderson bought Tri County Business Park, there were few buyers interested in taking on the space because it can be challenging to manage a property with nearly 100 tenants,” said Vaught, Executive Managing Director of Industrial Services, Colliers International Tampa Bay. “Dividing the space into two smaller parks made it more manageable from an operations standpoint and widened the pool of buyers for this property.” 

Colliers International worked with Birtcher Anderson to rebrand the property and stabilize occupancy rates. The company ultimately sold Park 6 at 93% occupancy.

 

About Colliers International Group Inc.

Colliers International (NASDAQ: CIGI) (TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, has delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. To learn more about how we accelerate success visit corporate.colliers.com, Twitter: @Colliers or LinkedIn.


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Ryan Vaught

Executive Managing Director, Industrial Services

Tampa

Ryan Vaught joined Colliers International in 2018. His real estate practice focuses on consulting with both industrial occupiers and property owners throughout the country while providing Tenant Representation, Agency, and Investment Sales services. 

Prior to joining Colliers International, Ryan was a Senior Vice President with JLL where he led the industrial services platform in Tampa, FL. Prior to relocating to Florida, Ryan was with Brixton Capital, a private equity investment firm located in San Diego, CA.

Ryan also served in the United States Army as a military intelligence officer.

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Robyn Hurrell

Managing Director, Industrial Services

Tampa

As a market leading commercial real estate advisor, Robyn partners with occupiers of industrial/flex space in the Central Florida region to integrate subject matter expertise, market knowledge, and consulting efforts into the real estate process. Drawing from my diverse background in the commercial real estate industry, her active involvement in the Central Florida brokerage community ensures continual awareness of current market trends to ensure a comprehensive and informed decision is made when securing a client’s commercial real estate space. In addition, Robyn handles the leasing efforts for over 1.5M square feet of Tampa Bay industrial/flex product with a tenant count in excess of 200 users.

Transitioning from JLL to Colliers in 2018, Robyn has been an integral part of the growth of the Colliers International Central Florida Industrial Team. The Vaught/Hurrell Industrial team is a diverse and collaborate group that strives to deliver creative strategies for both industrial/flex tenants and landlords. The team is uniquely positioned to help achieve clients’ short and long-term ambitions by evaluating market activity against a long history of experience, discussing economic and industry trends on both local and global scale, and ensuring a diverse perspective is present at the strategy table.

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Nathan Lynch

Executive Managing Director

Tampa

Nathan Lynch worked with CBRE for 10 years prior to joining Colliers International. Nathan was a graduate of Linfield College in McMinnville, OR with a Bachelor of Science in Finance and a minor in mathematics.

Prior to joining Colliers International, Nathan specialized in debt and equity finance with CBRE. Nathan has been directly involved in the placement of over $2 billion in commercial real estate debt and has originated over $500 million in commercial debt in Europe and the U.S. Nathan also managed a servicing portfolio of 200 loans totaling over $1.2 billion.

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