- March 25, 2016
TAMPA — The iconic Bank of America Plaza in downtown Tampa, one of the tallest buildings in the city, has sold for around $195 million.
It's one of the most lucrative office building sales in the region in several years, according to real estate firm CBRE, which represented the seller, MetLife Inc. Private Equity Real Estate News, an online publication based in London, reported the price.
The 42-story, 787,000-square-foot office tower, at 101 E. Kennedy Blvd. was purchased through a joint venture between Miami-based Banyan Street Capital and Los Angeles-based Oaktree Capital Management.
“This represents the seventh significant office building to trade in the last 18 months in the downtown Tampa submarket,” says Dale Peterson, CBRE's senior vice president, in a statement.. “Investor demand is being fueled by the prospects for significant future office rental rate growth. Downtown Tampa has a very impressive growth story to tell and we will see continued residential and employment growth.”
In that 18-month period, CBRE has also handed the sales of the Wells Fargo Plaza for $78 million, the Rivergate Tower for $70 million and the Fifth Third Center for $47 million, the statement adds.