Boston investor buys downtown Tampa office building for $56 million

Farley White Interests, a Boston-based commercial real estate investor with holdings in four states, has acquired the Two Harbour Place office and retail building in downtown Tampa for $56.35 million, according to Hillsborough County records.

As part of the acquisition of the 12-story building, MetLife Real Estate Lending provided a Farley White affiliate $33.81 million in financing, records indicate.

Commercial real estate brokerage firm Cushman & Wakefield represented the seller, the successor corporation to Crocker Partners, in the transaction and the company also arranged for the fixed-rate debt from MetLife.

“Two Harbour Place is a prime property that provides suburban office amenities and parking in an urban core environment,” says Rick Brugge, an executive managing director in Cushman & Wakefield’s Tampa-based capital markets team, who together with Vice Chairman Mike Davis and Rick Colon, Dominic Montazemi and Zachary Eicholtz represented CP Group and CenterSquare Investment Management in the sale.

“Two Harbour Place remains a unique and highly successful office asset.”

Farley White closed on the purchase of the 188,456-square-foot building late last month, records show. Company officials could not be reached to discuss the acquisition.

The 302 Knights Run Ave. building is currently 92% leased and features water views and amenities such as abundant on-site parking, a coffeehouse, concierge services, auto detailing and dry cleaning pickup and delivery.

For Farley White, the deal becomes its fifth major purchase along the Gulf Coast. The company also owns the 19-story Fifth Third Center in downtown Tampa; the Hidden River Corporate Center in suburban Tampa; and the Collier Health Park in Naples.

In all, the company owns more than two dozen assets in Florida, New Hampshire, Massachusetts and Connecticut, according to its website.

Boca Raton-based CP Group acquired Two Harbour Place in February 2013 for $32 million, according to property records.

Since 1986, CP Group has acquired and managed over 157 properties containing 48 million square feet and valued in excess of $6 billion.