311 Park Place
311 Park Place is an 119,015 square foot, Class B+ office building, in Clearwater, Florida. The property was built in 1985, renovated in 2015, and competes as the top asset in its submarket, Bayside, which is located approximately 20 miles west of Downtown Tampa. The Bayside submarket offers the opportunity for executives to live in a quality location that is proximate to the office and numerous amenities. Bayside affords companies the ability to take advantage of these qualities while paying a more moderate rent relative to downtown locations. The submarket has had strong demand without any new construction, thereby keeping vacancy rates relatively tight and providing a good runway for rent growth. Park Place is a well-leased, infill, suburban office building in a supply-constrained market. The building boasts credit tenancy and was purchased well below replacement cost.