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Business Observer Thursday, Jan. 3, 2019 2 weeks ago

Condo community sells for $10M, will become student housing

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The listing of Park Place, in Tampa, attracted nationwide interest.

TAMPA — Park Place, a 92-unit condo community located at 3400 Fletcher Ave., directly across from the University of South Florida’s Tampa campus, has been sold for $10 million to a developer who plans to turn it into student housing.

John Brigel of Marcus & Millichap’s Tampa office negotiated the sale. The buyer, a limited liability company, was also secured and represented by Brigel, according to a press release. 

“Situated immediately across the street from the University of South Florida, this land represents one of the true, last gems of student housing development potential at USF,” Brigel states in the release. “Interest from national student housing developers was quite strong, as was the final pricing. Both seller and buyer are most satisfied with the results of the agreement.”

Park Place was built in 1973 on a 3.91-acre parcel. Details of the redevelopment plans were not disclosed in the release.

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