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Business Observer Monday, May 16, 2022 1 month ago

Tampa office building sold to Zeno Office Solutions founder

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A nearly 162,000-square-foot building on Hillsborough Ave. brings $23.7 million — $169 per square foot.
by: Louis Llovio Commercial Real Estate Editor

A Tampa office building has sold for $27.3 million to investor Tom Frederick. 

The three-story property, 6550 W. Hillsborough Ave., was previously owned by GTE Wireless.

According to Cushman & Wakefield, the building is considered to be in the Westshore District despite the fact that it is nearly five miles from Westshore Boulevard and in the heart of Tampa’s Town 'n' Country neighborhood. In fact, Hillsborough County property records lists the property’s location as the South Town 'n' Country Area.

Although this might seem like a distinction without a difference, Westshore is traditionally seen as a commercial district near Tampa International Airport and the gateway to South Tampa, a well-established high-dollar enclave in the city. Town 'n' Country, on the other hand, is a working-class neighborhood with a large Hispanic population. Its commercial strip is dotted with used car lots, shopping centers, gas stations and fast-food restaurants.

As for the building itself, it was built in 1999 and has 161,455 square feet of space. It was 64% occupied at the time of sale.

Frederick, the new owner, is the founder and former CEO of Zeno Office Solutions, which sold to Xerox in 2013. He is a commercial real estate investor and a director at the venture capital firm TampaBay.Ventures.

(This story was updated to reflect the correct sale price of the building.)

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