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BUYER: McIntyre Building LLC (manager: Richard McIntyre), Tampa
SELLER: 500 Kennedy Building
PROPERTY: 500 E. Kennedy Blvd., Tampa
PRICE: $4.83 million
PREVIOUS PRICE: $2.91 million, August 1994
LAW FIRM ON DEED: Holland & Knight LLP, Tampa
PLANS, DESCRIPTION:
Litigation and bankruptcy attorney Richard McIntyre purchased a 32,286-square-foot office building for $4.83 million.
The price equated to $149 per square foot. That figure is higher than the two-year average price per square foot for office space ($119) in the Tampa Bay area, according to the CoStar Group.
McIntyre's law practice, McIntyre Thanasides, will relocate its Tampa office there from a suite in the M&I Bank building next door, at 501 E. Kennedy Blvd., Suite 1900, Tampa. The law firm will occupy the second floor of the new building.
The new owner plans to lease out the remaining three floors.
One of its new tenants will be Tampa Bay WaVE Inc., which will be relocating to the third floor this month from Rivergate Tower.
“We will be taking a little less space, but the layout will be much better for us,” says Gracie Stemmer, marketing manager for Tampa Bay WaVE. “The current space has a circular layout, which leads to a lot of negative space.”
The move will include 22 clients in Tampa Bay WaVE's accelerator program and 16 companies in the co-working space.
McIntyre plans to create a flexible event space and offices from shell space on the fourth floor.
The purchase entity, McIntyre Building LLC, mortgaged the property to First Citrus Bank for two loans totaling $4.92 million.
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