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Commercial Real Estate
Business Observer Friday, Feb. 1, 2019 7 months ago

New York firm buys Highwoods Preserve building in Tampa

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Strategic Office Partners deal is for Syniverse Technologies headquarters
by: Kevin McQuaid Commercial Real Estate Editor

A New York investment firm has acquired a six-story Tampa office building that houses Syniverse Technologies LLC’s corporate headquarters for $37.5 million.

Strategic Office Partners, a company formed in 2016 by Gramercy Property Trust and TPG Real Estate Partners, bought the 198,750-square-foot building at 8125 Highwoods Palm Way from Highwoods Properties, of North Carolina.

The Highwoods Preserve I building, which also includes an adjacent four-story garage, was completed in 2000 on 6.7 acres, according to data on CoStar Group’s commercial real estate website Loopnet.

Highwoods was represented in the Preserve I sale by commercial real estate brokerage firm Stan Johnson Co.’s Tulsa,, Okla., office, and brokers Brad Pepin, Jeff Hughes and Hunt Rose.

Syniverse, whose lease for the Preserve I space carries two-year and seven-year renewals, also maintains a 25,000-square-foot data center within the building.

Amanda Zakharov, Strategic Offices’s director of acquisitions, declined to comment on the transaction.

Since its formation, Strategic Office has acquired more than two dozen buildings containing 3.5 million square feet of space valued in excess of $700 million, according to its website.

In addition to the Preserve I building, the company also owns a Tampa building, purchased in 2017, occupied by drug maker Bristol-Myers Squibb. Tampa is one of more than two dozen “target markets” Strategic Office has identified nationwide, its website states.

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