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Buildings in Tampa office park sell for $111 million
The real estate arm of the giant Prudential Insurance Company has purchased five buildings in East Tampa’s Highland Oaks office park for $111 million.
It is Tampa Bay’s third major commercial real estate transaction in the past few weeks.
“There’s a lot of investor enthusiasm” in the area, said Dale Peterson of CBRE, which represented the seller in the Highland Oaks transaction. “What we’re seeing is surging population growth, strong job growth, a very healthy labor market and rapidly improving infrastructure in roads. We’ve got a bunch of new residential units being developed that are attracting millennials.”
Highland Oaks, just off Interstate 75 and one exit south of the I-4 interchange, is “extremely accessible,” Peterson said, noting that it is within a 45-minute commuting distance of 2 million people.