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Business Observer Friday, May 20, 2022 6 months ago

37-year-old Tampa office building sold to NY real estate investment firm

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The Sason Organization buys more than 98,000-square-foot office building, paying an estimated $14.22 million.
by: Louis Llovio Commercial Real Estate Editor

A New York real estate investment firm has bought a three-story office building in Tampa.

The firm, Sason Organization, bought Presidents Plaza II at 4904 Eisenhower Blvd.

The sale was completed in the name of an LLC, but a copy of the deed filed in Hillsborough County identifies the buyer as Sason.

And if that wasn’t proof enough, a tweet from the Twitter page belonging to Ari Sason, the firm’s co-founder, has a picture of the building, as well as renderings showing improvements, and reads, in part, “Ayyy Friday the 13th closing 5th building in Tampa for Sason Org.”

The price of the sale has not been disclosed, but according to the deed Sason paid $99,575 in documentary stamps, which puts the sale price at about $14.22 million.

Presidents Plaza II was built in 1985. The 98,105-square-foot building got $650,000 worth of improvements recently, including HVAC upgrade, renovated restrooms and a re-roofing.

The building, according to CBRE, which worked with the seller, was fully occupied at the time of the sale with a tenant mix including Guided Insurance Solutions, Identity Intelligence Group and Walker Parking Consultants/Engineers.

It’s hard to tell what the rest of Sason’s portfolio looks like. Its website, which acts like a digital billboard for most companies, is a single page showing the company’s West Broadway address and an email address for the media to contact the firm.

As for the renderings on Ari Sason’s Twitter page: it looks the building will get a new look inside and out, with the dull mid-1980s décor getting a significant brightening.

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