Insurance company to sell building for $47.5M

TAMPA — HCI Group Inc., a Tampa-based property and flood insurance company, has agreed to sell its headquarters building to the state of Florida for $47.5 million. 

According to a press release, the building sits on land that will be part of a Florida Department of Transportation road improvement project. After transaction costs, HCI Group’s real estate division, Greenleaf Capital LLC, will net about $44 million from the deal, expected to close in July.