Tampa's B&L Investments buys Walk at Highwoods Preserve II

BUYER: B&L Investments at Highwoods Preserve LLC (principals: Brad Luger and Henry Brenner), Tampa

SELLER: DDRTC Walks at Highwood Preserve II LLC

PROPERTY: 17503 and 17502 Bruce B. Downs Blvd., Tampa

PRICE: $3.99 million

PREVIOUS PRICE: $6.57 million, January 2004

SELLER: DDRTC Walks at Highwood Preserve III LLC

PROPERTY: a portion of Preserve Walk Lane, Tampa

PRICE: $12,933

PREVIOUS PRICE: $3.3 million, June 2000

LAW FIRM ON DEED: Seyfarth Shaw LLP, New York City

PLANS, DESCRIPTION: Tampa-based investment group B&L Investments purchased the 28,452-square-foot Walk at Highwoods Preserve II for $4 million.
The price equated to $141 per square foot.

Built in 2003, the shopping center at the northeast corner of Bruce B. Downs Boulevard and Dona Michelle Boulevard houses FedEx Office, Boston Market, Moe's Southwest Grill and Jenny Craig.

Mark Shellabarger of CBRE's Private Capital Group in Tampa represented the seller, a joint venture group majority owned by an affiliate of TIAA-CREF.