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Waterfront land in South Tampa sells for $15.75 million

Tyson Development Site

Alliance Residential Company to develop 325-unit apartment complex near Westshore Marina District.

Alliance Residential Company, an Arizona-based multifamily developer, has purchased a 12-acre parcel at 5105 W Tyson Ave. in Tampa for $15.75 million. The property is located just south of Gandy Boulevard, adjacent to the Westshore Marina District.

Alliance will develop a luxury multifamily community on the parcel, called Broadstone Westshore, which will include 285 traditional apartments, 40 two-story rental townhomes, a parking garage, a pool, a courtyard, a clubhouse and a dog park. The property has sightlines over Old Tampa Bay, Florida’s largest open water estuary.

Executive Managing Directors Mark Eilers and Ed Miller of Colliers represented the seller in the transaction.

This sale represents the real demand in the Tampa market for luxury apartments. This area of town is seeing a revitalization, with the Westshore Marina District and the retail, restaurants and high-end residential development underway here. This parcel offers an ideal opportunity for an upscale multifamily community like the one Alliance has planned.
Mark Eilers, Executive Managing Director, Colliers

The Westshore Marina District is a 52-acre mixed-use project entitled for 1,750 residential units, 156,250 square feet of retail, 83,750 square feet of office, 200 hotel keys and 185 to 240 marina slips on 1.5 miles of waterfront.

In addition, the property’s location in South Tampa just west of Westshore Boulevard provides immediate access to downtown Tampa, Hyde Park Village, the Westshore business district, MacDill Air Force Base and Pinellas County.

Alliance Residential Company is one of the largest and most active rental residential real estate developers in the United States. Headquartered in Scottsdale, Ariz., Alliance is focused on the development, construction and acquisition of residential communities across 16 states and 39 metropolitan markets, including Tampa’s Bleecker Hyde Park and Citrus Village apartments.

Alliance plans to break ground on Broadstone Westshore in the next few weeks, with an opening expected for late 2024. Alliance plans to rebuild the property’s seawall and elevate the grade on the land for the apartments to adhere to guidelines from the Federal Emergency Management Authority.


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Mark Eilers

Executive Managing Director, Land Services

Tampa

Mark Eilers brings more than 27 years of commercial real estate experience to Colliers International Tampa Bay. Throughout his career, Mark has cultivated an expertise in land brokerage, focusing on residential land development, both single and multi-family, in-fill development sites, commercial sites and large mixed-use development tracts, as well as investment sales in apartments and office buildings. Mark has extensive experience working with lenders, servicers in loan and asset valuations and disposition strategies.

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Ed Miller

Executive Managing Director, Industrial Services

Tampa

Ed specializes in industrial sales including leasing, site selection, land and investment sales.  A 30+year veteran of the Tampa real estate market, he was managing partner of Corporate Real Estate Services prior to its merger with Colliers International Tampa Bay Florida.  From his base in Tampa, Ed covers the dynamic central Florida industrial market along the I-4 corridor.  He works in partnership with executive managing brokers, Dolores Seymour and Deborah Mickler, providing his clients with his unique and comprehensive market insight.  On behalf of their very satisfied clients, he has leased, disposed of, or acquired over six million square feet of industrial space and sixteen hundred acres of vacant land in transactions valued at over $400 million.

Ed’s experience includes preparation of strategic market studies, valuation, acquisition, disposition, leasing, consultation and repositioning to increase value.   He holds a master’s degree in economics and combines an academic temperament with practical experience in logistics, industrial design and site layout.  His market knowledge is both thorough and current, with a history of personal experience, and a few interesting stories. His real world experience, technical background and familiarity with sites and properties from Tampa and Orlando make him a highly sought after advisor.   Working with his team he creates an effective blend of experience, market knowledge, strategic planning, negotiation skills and process management.

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