City Center sale includes $10M in intangibles

Bryn Mawr, Pa.-based private real estate investment and operating company Alliance Partners HSP LLC purchased the real estate of the 39-story Tampa City Center in two deeded transactions totaling $117.73 million.

The price equated to $157 per square foot. That figure is higher than the two-year average price per square foot for office space ($118) in the Tampa Bay area, according to the CoStar Group.

The total acquisition cost of the property, including nontaxable intangibles such as building equipment and leases, was $128.13 million equal to $171 per square foot.