Florida Dynamics DST
St Petersburg, FL
| Asset Class: | Office |
| Leverage | 0% - All-Cash/Debt-free |
| Location | St Petersburg, FL |
| Minimum Investment: | $100,000 |
| Current Distribution | Monthly/Inquire |
| Offering Type: | DST |
| 1031 Exchange Qualified: | Yes |
Property Description
Florida Dynamics DST is an institutional-quality, class A office located within the 432-acre, master planned Carillon Park – one of Florida’s most recognizable business parks. The offering is a single tenant asset 100% leased through 2032 to General Dynamics Ordnance & Tactical Systems, Inc. an investment-grade credit tenant (Moody’s: A2 / S&P: A-).
MSA Details
The Tampa MSA represents the second largest office market among the major Florida MSAs, consisting of 756 building that provide nearly 42 million square feet of space. Consisting of thirteen (13) distinct submarkets, the Tampa MSA’s predominant markets are Westshore (11.8 MSF), I-75 Corridor (7.8 MSF), Tampa CBD (7.0 MSF), Northwest Tampa (3.9 MSF) and the Gateway (3.0 MSF) submarket in Pinellas County. The Tampa MSA features a multifarious tenant base with tenants representing the financial services, professional services, legal, healthcare and technology sectors that make up the local economy. Due to an extensive interstate network, there are more than 34 million consumers within an eight-hour drive of which is widely considered the center of the Tampa Bay region, the intersection of Interstate 75 and Interstate 4.
Property Highlights
- Institutional-Quality, Class “A” Office Asset 100% leased to General Dynamics Ordnance & Tactical Systems, Inc.
- Investment-grade credit (Moody’s: A2 / S&P: A-);Reported just shy of $2 billion in revenues during their 2020 fiscal year
- 10.4 years of weighted average remaining lease term (as of 10/1/2021); 2.5% contractual annual rent escalations during the lease term; Tenant has two (2) 5-year renewal options
- Has been operating in Pinellas County for the last 15 years
- Located within the 432-acre, master-planned Carillon Park – one of Florida’s most recognizable business parks
- Two stoplights from St. Petersburg-Clearwater International Airport passenger terminal and four (4) stoplights from the Tampa International Airport passenger terminal
- Proximately to key retail corridors along Ulmerton Road, Roosevelt Boulevard, and 4th Street North
Source: Preliminary Information
The market information provided above may not predict the future performance of the property.
*Distribution is not guaranteed and is subject to available cash flow. For further information about cash flow distributions from operations and capital events, please refer to the offering’s Private Placement Memorandum.
All DST properties shown are subject to availability. There can be no assurance that the DST properties shown will be available.
