Northmarq’s Debt + Equity team arranges $3.65M acquisition financing of 8800 Office Park in Pinellas Park, FL
PINELLAS PARK, Fla. — Northmarq’s Tampa Debt + Equity team led by Robert Hernandez successfully arranged the $3.65 million acquisition financing of 8800 Office Park, a 46,352-sq.-ft. general office facility located at 8800 49th St. N in Pinellas Park, Florida.
Northmarq arranged financing on behalf of the borrower, Aware Investments LP, through a relationship with a correspondent life insurance company. The transaction was structured on a five-year term, and Northmarq will service the loan.
“The lender was very flexible and accommodating for this repeat Northmarq client,” Hernandez said. “They restructured the transaction to allow for a timely closing despite a major tenant vacating the property after application.”
Built in 1974 and sitting on 3.76 acres, 8800 Office Park features three single story buildings conveniently located in the heart of Pinellas County near U.S. Hwy 19 and Interstate 275. It is located roughly 6.5 miles from the St. Pete-Clearwater International Airport and 17.5 miles from Tampa International Airport.
