6302 Company Middle
Torose Equities and Merrimac Ventures have bought 6302 Company Middle, a 350,000-square-foot workplace constructing in Tampa, Fla., for $31 million. The vendor was B&L Investments, which had acquired the property in 2014 for $27.5 million, in keeping with CommercialEdge knowledge.
The Tampa asset represents Torose’s first buy because the firm launched in late 2022, an acquisition that may generate a powerful return on investments. The agency focuses on value-add, city retail, workplace and mixed-use properties within the Southeastern U.S.
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In line with a current CommercialEdge report, workplace transactions slowed down within the second half of 2022. Tampa closed the yr with $847 million in offers at a mean $256 per sq. foot, adopted by Atlanta ($197 per sq. foot), Dallas ($188 per sq. foot) and Orlando ($176 per sq. foot). In one of many late-year offers, FLRE Buyers acquired a 171,752-square-foot, absolutely occupied workplace property in Odessa, Fla., for $38.9 million.
Torose’s first funding
Initially inbuilt 1984 as an outlet mall, the asset was transformed right into a multi-tenant workplace constructing in 1998. The one-story constructing at 6302 E. Physician Martin Luther King Jr. Blvd. has giant floorplates, an atrium lounge and lately upgraded frequent areas. The 50-acre property additionally consists of two lakes and 1722 parking spots.
Within the final yr, leasing exercise on the property totaled some 95,000 sq. toes. The tenant roster options firms comparable to Well being Plan One, Concentrix and Public Consulting Group, CommercialEdge reveals.
Located in East Tampa’s rising hub, the property is 6 miles from downtown Tampa, adjoining to Interstate 4. Tampa Worldwide Airport is 12 miles west.
