{"id":1004640595,"date":"2023-01-20T06:33:00","date_gmt":"2023-01-20T14:33:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004640595"},"modified":"2023-02-21T14:01:17","modified_gmt":"2023-02-21T22:01:17","slug":"torose-merrimac-buy-350-ksf-tampa-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/torose-merrimac-buy-350-ksf-tampa-office-asset\/","title":{"rendered":"Torose, Merrimac Buy 350 KSF Tampa Office Asset"},"content":{"rendered":"
\"\"<\/a>

6302 Corporate Center<\/p><\/div>\n

Torose Equities <\/strong>and\u00a0Merrimac Ventures<\/strong> have purchased 6302 Corporate Center, a 350,000-square-foot office building in Tampa, Fla., for $31 million. The seller was B&L Investments<\/strong>, which had acquired the property in 2014 for $27.5 million, according to CommercialEdge data.<\/p>\n

Centennial Bank<\/strong> provided a $20.8 million loan to 6302 Torose LLC for the acquisition and improvements of 6302 Corporate Center. The Tampa asset represents Torose’s first purchase since the company launched in late 2022, an acquisition that can generate a strong return on investments. The firm focuses on value-add, urban retail, office and mixed-use properties in the Southeastern U.S.<\/p>\n

\n

READ ALSO:<\/strong> Where to Find Opportunities as Economy Slows<\/a><\/p>\n

\n

According to a recent CommercialEdge report<\/a>, office transactions slowed down in the second half of 2022. Tampa closed the year with $847 million in deals at an average $256 per square foot, followed by Atlanta ($197 per square foot), Dallas ($188 per square foot) and Orlando ($176 per square foot).\u00a0In one of the late-year deals, FLRE Investors acquired a 171,752-square-foot, fully occupied office property<\/a> in Odessa, Fla., for $38.9 million.<\/p>\n

Torose’s first investment<\/h2>\n

Originally built in 1984 as an outlet mall, the asset was converted into a multi-tenant office building in 1998. The one-story building at 6302 E. Doctor Martin Luther King Jr. Blvd. has large floorplates, an atrium lounge and recently upgraded common areas. The 50-acre property also includes two lakes and 1722 parking spots.<\/p>\n

In the last year, leasing activity at the property totaled some 95,000 square feet. The tenant roster features companies such as Health Plan One, Concentrix and Public Consulting Group, CommercialEdge shows.<\/p>\n

Situated in East Tampa\u2019s growing hub, the property is 6 miles from downtown Tampa, adjacent to Interstate 4. Tampa International Airport is 12 miles west.<\/p>\n","protected":false},"excerpt":{"rendered":"

The deal marks the first acquisition for the recently launched Torose Equities.<\/p>\n","protected":false},"author":2991,"featured_media":1004640615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21747,1612],"tags":[48119],"class_list":["post-1004640595","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-office","category-tampa","tag-merrimac-ventures"],"acf":[],"yoast_head":"\nTorose, Merrimac Buy 350 KSF Tampa Office Asset - CPE<\/title>\n<meta name=\"description\" content=\"Torose Equities and Merrimac Ventures purchased 6302 Corporate Center, an office asset in Tampa, Fla., from B&L Investments.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/torose-merrimac-buy-350-ksf-tampa-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Torose, Merrimac Buy 350 KSF Tampa Office Asset\" \/>\n<meta property=\"og:description\" content=\"Torose Equities and Merrimac Ventures purchased 6302 Corporate Center, an office asset in Tampa, Fla., from B&L Investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/torose-merrimac-buy-350-ksf-tampa-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-20T14:33:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-21T22:01:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/7024-e1674220834276.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"997\" \/>\n\t<meta property=\"og:image:height\" content=\"747\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/torose-merrimac-buy-350-ksf-tampa-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/torose-merrimac-buy-350-ksf-tampa-office-asset\/\",\"name\":\"Torose, Merrimac Buy 350 KSF Tampa Office Asset - 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