Tampa Bay, Florida - Triple Net Lease Properties reports Eola Capital, an Orlando-based real estate investment company, has acquired a 130,000 square foot office building at 500 N. Westshore Blvd. in Tampa Bay. The 10-story, Class A office building will increase Eola Capital’s holdings in Tampa to more than 1.6 million-square-foot.
“Westshore 500 is 90% leased and its diverse rent roll is comprised of smaller companies providing a stable rent stream for our investors. The property is a significant addition to our Tampa portfolio and compliments our existing holdings well,” added Kyle Burd, regional vice president of Eola Capital.
The office building, adjacent to the Westshore Plaza, was built in 1984. Eola Capital plans to invest in substantial capital improvements to the property.
We, at Net Lease Properties are very active in the Tampa Bay Market.
There are plenty of benefits of Net Lease Investments in using a 1031 tax exchange. Unlike other investments, commercial real estate is a great tax saver and helps you defer capital gains tax by using the 1031 exchange. Net Lease Properties are generally secured by leases with a remaining term of 10 to 25 years, minimizing the concern of tenant turnover.
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