Parmenter Acquires Rocky Point Centre in Tampa, Florida

FOR IMMEDIATE RELEASE

Contact: Media Relations
Telephone: (305) 379-7500
Email: mediarelations@parmco.com

Parmenter Acquires Rocky Point Centre in Tampa, Florida

MIAMI, Fla., July 1, 2015 – Parmenter, a fully integrated real estate investment, management and development firm, has acquired Rocky Point Centre in Tampa, Florida, a Class A, eight-story, 181,014 square foot, multi-tenant office building located at 3030 North Rocky Point Drive for an undisclosed amount from Invesco.

Completed in 1985, Rocky Point Centre is located on Rocky Point Island, in the prestigious Westshore submarket, on Courtney Campbell Causeway which connects Tampa to Clearwater and St Petersburg. The building is also in close proximity to Tampa International Airport, making it an ideal location for businesses that require frequent air travel.

“The acquisition of Rocky Point Centre demonstrates Parmenter’s commitment to the Tampa market, as it is Parmenter’s third building in the Rocky Point micro-market, along with Island Center and Waterford Plaza,” said John Davidson, Managing Principal – Southeast Region at Parmenter. “Rocky Point consistently leads the Westshore submarket and the overall Tampa MSA in occupancy as well as rental rates. Much of the area’s success is due to the expansive water views from the island as well as the central location, restaurant amenities and accessibility to Clearwater and SR 589/Memorial Highway. With this acquisition, Parmenter now owns and manages 680,000 square feet of Class A space in Rocky Point.”

Rocky Point Centre offers unparalleled panoramic water views and the exterior features a timeless pre-cast concrete and aluminum curtain wall system. The light-filled atrium lobby was renovated in 2014, and includes granite walls and flooring, architectural lighting, a multi-plane ceiling, lush landscaping, as well as a dramatic two-story front elevation window line.

“Parmenter plans to implement a $2.65 million capital improvement program to address both cosmetic improvements as well as mechanical upgrades, including an elevator modernization,” said Michael Holmes, Regional COO and SVP of Acquisitions in the Southeast Region. “Current building amenities include a multi-level structured parking facility, fitness center with lockers and showers, full-service deli, conference center, paved outdoor patio seating overlooking Old Tampa Bay with free WiFi service, and adjacent jogging trails set in a tranquil waterfront setting.”

# # #

For more information on this topic please contact Parmenter Media Relations by calling (305) 379-7500 or via e-mail at MediaRelations@parmco.com.