Westshore sale highlights bay's office recovery

BUYER: Angelo, Gordon & Co. LP (AG-EREP Westshore Owner LLC, AG-EREP Cypress I Owner LLC, AG-EREP Cypress II Owner LLC, AG-EREP Cypress III Owner LLC and AG-EREP Cypress IV Owner LLC), New York City
SELLER: Parkway Westshore LLC, PKY Fund II Tampa I LLC and PKY CYP4 LLC
PROPERTY: 600 N. West Shore Blvd., 5400 Gray St., 402 N. Hoover Blvd. and 5310, 5404 and 5405 Cypress Center Drive, Tampa
PRICE: $66 million
PREVIOUS PRICE: $21 million, May 2011; $18.92 million, November 2012; and $2.9 million, August 2013
LAW FIRM ON DEED: Driver McAfee Peek & Hawthorne PL, Jacksonville

Following strong improvement in the office market, particularly in Westshore, an Angelo Gordon & Co.-led group purchased five office buildings and a parking lot for $66 million.

The Westshore sale included the 11-story, 173,566-square-foot Westshore Corporate Center; 152,758-square-foot Cypress Center I; 50,697-square-foot Cypress Center II; 82,871-square-foot Cypress Center III; and 93,150-square-foot Cypress Center IV.