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Sterling Sells 473,000-SF Park Tower in Downtown Tampa

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Sterling Equities sold the Park Tower office building at 400 N. Tampa St. in Tampa, FL for $ 79.75 million, or about $ 169 per square foot, to a joint-venture consisting of affiliates of City Office REIT, Inc. (NYSE: CIO), Feldman Equities Management and Tower Realty Partners. The seller acquired the asset in 2006 from Colonnade Properties LLC for $ 50 million ($ 106 pSF), according to CoStar data. div.comp {font-size:0.8em;line-height:1.2em;float…
Tampa/St. Petersburg Commercial Real Estate News From CoStar Group

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Today, Tampa is part of the metropolitan area most commonly referred to as the Tampa Bay Area. For U.S. Census purposes, Tampa is part of the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area. The four-county area is composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C. and Atlanta.[14] The Greater Tampa Bay area has over 4 million residents and generally includes the Tampa and Sarasota metro areas.

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