Counsel Square II

CBRE Capital Markets, as exclusive advisor on behalf of Ownership, is pleased to offer for sale the 100% fee simple interest in Counsel Square II (the “Buildings” or “Property”), a two-building office portfolio located in New Port Richey, Pasco County, Florida. Originally developed in 1995, the Property features a 100% leased single-story office building leased to one (1) tenant and a 88.1% leased two-story office building leased to four (4) tenants. In total, the Property is 90.3% leased and features approximately 7.4 years of weighted-average remaining lease term (“WALT”). The Property’s rent roll is predominantly comprised of government and quasi-government sector tenancy given its immediate proximity to the Pasco County Government Complex located directly across the street along Little Road. The synergy between the two properties and their respective occupants ensures significant tenant retention as leases approach expiration dates. Furthermore, ownership has deployed significant capital improvements at the Property thus
limiting a new owner’s exposure to any future capital requirements.

Counsel Square II features excellent connectivity throughout the Pasco County community and the greater Tampa Bay region. The Property benefits greatly from its Little Road frontage, a main north-south thoroughfare within Pasco County. In addition, Little Road provides convenient access to major east-west thoroughfares including the recently expanded Ridge Road to the north (1 mile away), Massachusetts Avenue to the south (1 mile away), and State Road 54 to the south (5 miles away). Furthermore, these corridors are lined with a plethora of dining and other retail destinations thus yielding additional occupier demand for the Property.

The combination of predictable cash flow, credit tenancy, the synergy with the neighboring government campus and limited capital requirements offers investors an excellent investment opportunities within one of Florida’s more vibrant and expanding markets.