Tampa, FL – July 29, 2014 – CBRE arranged the sale of Fifth Third Center, a Class A 281,187-square-foot landmark office building located at 201 E. Kennedy Boulevard in Tampa, Florida, for an undisclosed price. CBRE represented the seller in the transaction, Terrace Tower Tampa, LLC.
“Fifth Third Center is exceptionally positioned for stable, long-term income growth and value appreciation,” said Dale Peterson, CBRE Senior Vice President. “It is one of Tampa’s premier office assets and has been impeccably maintained with no significant near-term capital requirements.”
Peterson added, ”Investor interest in Tampa continues to escalate due to positive job growth and rapidly improving market fundamentals.”
Constructed in 1982 and located within the Tampa Central Business District, the striking Fifth Third Center rises 19 stories with an exterior highlighted by dual pane dark reflective glass facade . The building’s two-story ground floor lobby offers an attractive, arched entryway and is elegantly appointed with rich woods and marble floors. The building’s unique design provides excellent window lines, panoramic views and multiple corner offices per floor. Parking is available in a six-story connected parking garage with 244 spaces, including 31 valet/visitor spots.
The property’s in-building amenities include onsite banking and ATM, café, conference room, tenant storage areas, 24/7 security presence and a covered walkway to Bank of America/Tampa Club. Fifth Third Center is adjacent to Tampa City Hall and Lykes Gaslight Park and enjoys direct access to the Hilton Hotel across Jackson Street. There are abundant dining, shopping and entertainment options in the immediate area, and the property is easily accessible from both Interstate 275 and Interstate 4.
Fifth Third Center is leased to a diverse mix of highly recognizable tenants including Fifth Third Bank, the United States Government, Deloitte, Saxon Gilmore, Skoda Minotti, Marshall Dennehey, Conroy Simberg and Walter P. Moore.
The Tampa-based CBRE team representing the seller included Dale Peterson, Anne-Marie Ayers and Courtney Decker.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.