Miami investor group buys University Commercial Center

BUYER: Orion Venture VI LLC (principals: Barry Brant and Joseph Sanz), Miami
SELLER: University Commercial Center Ltd.
PROPERTY: 11601 N. 15th St., 4611 N. Hale
Ave. and 1501, 1507, 1509, 1511, 1513, 1701, 1707, 1711, 1715, 1721, 1727, 1801, 1805, 1915 and 1911 E. Fowler Ave., Tampa
PRICE: $13.4 million
PREVIOUS PRICE: $21,000, October 1979
LAW FIRM ON DEED: Barnett Bolt Kirkwood Long & McBride PA, Tampa

PLANS, DESCRIPTION:
An investment group managed by Miami-based Orion Investment and Management Limited Corp. purchased the 17.69-acre University Commercial Center property for $13.4 million.

The price equated to $92 per square foot. That figure is lower than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.