Franklin Property buys Verizon 56th Street building

BUYER: 10402 North 56th Street LLC (principal: David Franklin), Tampa
SELLER: Verizon Florida LLC
PROPERTY: 10402 N. 56th St., Temple Terrace
PRICE: $2.6 million
PREVIOUS PRICE: $31,500, January 1970
LAW FIRM ON DEED: Holland & Knight LLP, Tampa

PLANS, DESCRIPTION: Franklin Property & Development Group LLC purchased a 57,347-square-foot, two-story office building at the northwest corner of 56th Street and Serena Drive for $2.6 million. The purchase price equated to $45 per square foot.

The former owner, telecommunications company Verizon, has signed a short-term lease on the property.