Tampa Electric buys land near its Eastern Operations Center

BUYER: Tampa Electric Co. (principals: J.B. Ramil, G.L. Gillette, D.E. Schwartz, S.W. Hudson and C.A. Attal), Tampa

SELLER: Susan Sheppard

PROPERTY: 8400 Palm River Road, Tampa

PRICE: $1.19 million

PREVIOUS PRICE: $175,000, February 1983

TITLE FIRM ON DEED: Chicago Title Insurance Co., Tampa

PLANS, DESCRIPTION: Tampa Electric Co. purchased 13.59 acres on Palm River Road bordering the Crosstown Expressway for $1.19 million.

The price equated to $87,196 per acre.

The land, which is zoned for open storage, houses a 1,883-square-foot manufactured home. It was previously used as a semi-trailer storage yard.

Cherie Jacobs, a spokeswoman for Tampa Electric, says the utility company purchased the property because it borders the business's 60-acre Eastern Operations Center on two sides.

“We bought it for potential future use,” she says.

Tampa Electric, the principal subsidiary of TECO Energy Inc., provides electrical service to nearly 676,000 customers in West Central Florida.