Loading
Hillsborough Community College buys building
BUYER: Board of Trustees of Hillsborough Community College, Tampa
SELLER: Rick Klepal court-appointed receiver for property covered by Provident Life and Accident Insurance Co. vs. T&B Realty LLC, et al.
PROPERTY: 1606 N. 15th St., 1400 and 1404 E. 5th Ave. and 14th Street, Tampa
PRICE: $6.5 million
PREVIOUS PRICE: $1.5 million and $600,000, March 2006
LAW FIRM ON DEED: Stearns Weaver Miller Weissler Lhadeff & Sitterson PA, Tampa
PLANS, DESCRIPTION: Hillsborough Community College purchased a 51,400-square-foot four-story office building between 14th and 15th streets and 5th and 6th avenues for $6.5 million. The first three floors of the building were completed but the fourth floor is still just a shell.
“We are in an enormous space crunch with enrollment skyrocketing,” says Ashley A. Carl, executive director of marketing and public relations for the college. “This building was in foreclosure just blocks from our Ybor City campus. We felt it would be a great building for us to move some functions from the campus that are taking up classroom space over there.”
The property's previous owner spent more than $12 million to build it and the college bought it for half that, Carl says.
The college expects to move its faculty training service, corporate and continuing education, information technology and instructional design operations to the 15th Street building. It also plans to develop the top floor as a conference center.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
