Savills Studley Represents Moffitt Cancer Center in $11.75M Acquisition

13 September 2017

Savills Studley, the leading commercial real estate firm specializing in tenant representation, arranged an $11.75 million acquisition on behalf of Moffitt Cancer Center & Research Institute. The purchase includes a 318,171-square-foot industrial building on 21.8 acres located at 10901 North McKinley Drive in Tampa, Fla.

Purchased from Sweetwell Industrial Associates L.P. Limited, the one-story building, built in 1970, offers concrete block exterior walls, a steel frame roof covered with built-up tar and gravel, concrete interior flooring, 22-foot clear heights and air conditioning. Located in Tampa Industrial Park, the site is easily accessible to the University of South Florida and Florida Hospital Tampa to the north, Busch Gardens Tampa Bay to the south and both Interstates 75 and 275 via East Fowler Avenue.

Cheri O’Neil, branch manager of Savills Studley’s Tampa office, negotiated the deal. The owner was represented by Mike Davis, Julia Silva Rettig and Jessica Mizrahi of Cushman & Wakefield.

“The site made perfect sense for Moffitt Cancer Center’s portfolio and long term real estate needs,” said O’Neil. “Aside from its proximity to Moffitt’s five existing locations around the Temple Terrace area, the new acquisition offers the flexibility to grow and expand in a strategic way.”

Moffitt Cancer Center is one of only 49 National Cancer Institute-designated Comprehensive Cancer Centers, a distinction that recognizes Moffitt’s excellence in research, clinical trials, prevention and cancer control. Moffitt devotes more than 2 million square feet to research and patient care. In 2016, Moffitt announced an $800 million, 10-year expansion project. While immediate plans for the facility have not been announced, the project will include the newly acquired land.

Established in 2004, the Savills Studley Tampa office has negotiated leases on behalf of local, regional and national tenants across various industries, including government, non-profit, education, healthcare, legal, technology, financial and industrial users. The office offers comprehensive real estate advisory and transaction services, and has earned a reputation for its superior market knowledge, complex transaction management and exceptional results.