Colliers International in Greater Phoenix recently completed the sale of the 390-unit Grand Reserve at Park Isle, a gated Class A multifamily community in Florida.
Grand Reserve Borrower LLC of Dallas, Texas purchased the complex, located at 2600 W. Grand Reserve Circle, in Clearwater Florida from Standard Grand Reserve LLC of Arcadia, California.
The seller was represented by the Colliers Cooke Team, led by Cindy Cooke, senior executive vice president, and Brad Cooke, vice president, in Colliers International’s Phoenix office, which partnered with John Stone, principal and managing director, in the Colliers Clearwater office in Florida.
Built in 1998, Grand Reserve offers luxurious, spacious and well-appointed floor plans, from one to four bedrooms, with all units featuring full-size washers and dryers, kitchen design with island seating, crown molding, gas fireplaces, arched doorways, roman tubs, bonus rooms for office or library, 9-foot ceilings and tucked-under garages.
Floor plans average 1,175 square feet, with units ranging from one bedroom flats at 766 square feet to four bedroom units as large as 1,800 square feet.
The tropical resort landscaped grounds center around a tranquil lake and water features. The extensive amenity package includes a clubhouse, two resort-style pools, spa/hot tub, state-of-the-art fitness center, volleyball and tennis courts, movie theater, billiards room and dog park. Grand Reserve is 10 minutes from the much sought after Clearwater Beach.
Grand Reserve at Park Isle is centrally located to allow immediate access to several dynamic employment markets including six highly reputable medical centers and numerous business and education districts. Access to downtown areas of Clearwater and St. Petersburg are available via U.S. Highway 19, which connects with Gulf Bay Boulevard, the main road to the Westshore Business District and the city of Tampa.
“This high-end gated community has a density of only 14.44 units per acre which is hard to replace today in this infill location,” said Cindy Cooke, adding, “Grand Reserve truly feels like a resort within minutes of the beach.”
