The office property secures a 18,540 SF lease with a community healthcare services company for its executive and administrative offices
News release
16 November 2023
JLL signs office tenant at Buschwood Park in Florida’s Tampa submarket
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Tampa, Nov. 17, 2023 – JLL announces today the completion of a new office lease totalling 18,540 square feet with new tenant Agency for Community Treatment Services (ACTS) at the office property Buschwood Park II situated at 3450 Buschwood Park Drive in Tampa.
The JLL brokerage team led by Jim Moler, CCIM, Executive Vice President, Deana Beer, Senior Vice President, and Hans Kaunath, CCIM, Vice President, represents the property’s ownership group, Meridian Development Group. The tenant ACTS was represented by Kevin Platt, an Associate of Smith & Associates.
The new office lease is well above the average deal size in the Tampa market where leasing velocity is highest among small leases as deals under 10,000 square feet have accounted for 60% of all office lease transactions since 2015, according to JLL’s third quarter Office Insight report.
Located at the Southeast corner of Busch Boulevard and Himes Avenue, Buschwood Park I and II features an on-site café, complimentary tenant lounge and conference center. The park provides easy access to Interstate 275 and Veterans Expressway and is within close proximity to Tampa International Airport. JLL also provides property management services at the property.
“The flight-to-quality trend rings true in Tampa Bay’s suburban office markets,” explained JLL’s Hans Kaunath. “The office property’s ownership, Meridian Development Group, invested early on to create a high-quality, amenity-rich experience and office environment which is paying off as the office complex comprised of Buschwood I and II is now over 90% leased.”
ACTS offers treatment to improve health through personal and family-centered recovery practices and specialized programs. The tenant, which is relocating from East Tampa to the Northwest Tampa submarket, plans to occupy the space by spring 2024.
“After touring the Tampa office market for office space options, the selection of the office property Buschwood Park II met our needs given its centric location and appealing amenities,” said Asha Pereyra, Chief Executive Officer at ACTS. “With this move, the executive and administrative operations are strategically positioned for better proximity to patient-serving programs across Tampa Bay.”
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.