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

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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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The city is divided into many neighborhoods, many of which were towns and unincorporated communities annexed by the growing city. Generally, the city is divided into the following areas: Downtown Tampa, New Tampa, West Tampa, East Tampa, North Tampa, and South Tampa. Well-known neighborhoods include Ybor City, Forest Hills, Ballast Point, Sulphur Springs, Seminole Heights, Tampa Heights, Palma Ceia, Hyde Park, Davis Islands, Tampa Palms, College Hill, and non-residential areas of Gary and the Westshore Business District.

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