Cushman & Wakefield Leases 52,533 Square Foot Office Space to L’Oreal Subsidiary SalonCentric
St Petersburg, FL, March 05, 2014 --(PR.com
)-- SalonCentric Inc., a L’Oreal USA subsidiary, that distributes professional salon products, has leased a substantial portion of the office space at Cardinal Point at Gateway at 10101 MLK Street N. in St. Petersburg, Cushman & Wakefield of Florida Inc. announced today. The space, which totals 52,533 square feet, will house SalonCentric’s national administrative site.
The two-story building is owned by Cardinal Point Management LLC. Paula Buffa and James Moler, agents for Cushman & Wakefield represented the owner. SalonCentric was represented by James W. Hall, broker, in cooperation with Edward Dudzinski of Atlantic Real Estate Services.
"We are delighted to have been a part of this major transaction," Buffa said.
The building, which contains a total of more than 87,000 square feet of space, was acquired vacant by Cardinal Point Management in December 2011 and was extensively renovated by Cardinal Point immediately after purchase.
"This is excellent space, but the building needed to be renovated and modernized," said Moler. "By working with Cardinal Point Management, we were able to position the property as viable Class A space and then quickly find the right tenant."
Moler said renovations and upgrades to the space for SalonCentric will be completed in the coming months, and that SalonCentric expects to move in during the third quarter of 2014.
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and management assignments. Founded in 1917, it has 253 offices in 59 countries, employing more than 15,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge