As year-end deals continue to close out, more real estate buyers are announcing that they have spent millions of dollars on Tampa Bay area office space and surrounding property. In New Port Richey, California-based Jefferson-Pilot Investments bought the Trinity Village Center for $9.5 million. The property is a 71,990-square-foot shopping center, with Crispers, Five Guys Hamburgers and Bonefish Grill among its tenants. At the time of closing, the center was 78% leased.
In Tampa’s Westshore submarket, Raleigh, N.C.-based Highwoods Properties Inc. bought 44 acres of land for $17.6 million. The purchase is composed of two parts: $4.9 million spent on 33 acres of undeveloped land, and $12.7 million for a 117,000-square-foot vacant office building on 11 acres.
With the transaction, Highwoods now owns or has an interest in 14 Westshore office buildings, representing 2.2 million of the submarket’s 11.2 million square feet of office space.
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