Jones Lang LaSalle Americas, Inc. (JLL) is pleased to present the opportunity to acquire Harbour at Westshore (the “Property”), a 192-unit recently delivered mid-rise multifamily community located in South Tampa, one of Tampa’s most desirable, affluent and high barriers-to-entry neighborhoods. The Property is strategically located across the street from the newly developed $600 million Westshore Marina District which soon will deliver exciting new restaurants, retail concepts, waterfront parks and high-end condominiums, and is within a 15 minute drive of downtown Tampa, the Westshore Business District and the Gateway Office Market.
Completed in June 2020, the Property has enjoyed a rapid lease-up and is experiencing increasing demand and rental rates as it reaches stabilization. Three competing lease-ups within a few blocks have also recently stabilized, eliminated concessions and increased rents to levels $200 - $400 above Harbour at Westshore, providing an opportunity for the Property to increase rents even further on second generation leases.
Harbour at Westshore offers a robust amenity package and upscale interior finishes while it is distinguished from the competition through features such as its covered podium parking, a second-story pool deck and amenity center, and a sprawling, 1/3 acre dog park with paw wash and agility equipment. Also, with only 192 units, Harbour at Westshore provides a quieter, more intimate setting than the competing properties which are, in some cases, twice the number of units.
- Core-quality, four stories of residential over podium, with robust offering of amenities
- Accelerating demand and increasing rental rates
- Rents well below those at neighboring competition
- Infill submarket with high-barriers to-entry
- Walkable to high-end Marina District shops and restaurants
- Premier, South Tampa address
- Easy access to top employment centers