The Bank of America Plaza in downtown Tampa has been acquired in a joint venture between Miami-based Banyan Street Capital and Los Angeles-based Oaktree Capital Management for $195 million. The 42-story, 787,042 square-foot office tower, located at 101 E. Kennedy Blvd. traded for slightly less than $248 per square foot. The building sits on a 0.96-acre site and is connected by a skybridge to an adjacent 1,263-space, 14-story parking structure. CBRE arranged the sale on behalf of the seller, MetLife Incorporated.
“This landmark building stands 42 stories tall and spans two city blocks, making it one of the most prestigious office developments in the southeastern United States,” said Christian Lee, CBRE Vice Chairman. “In an urban market where fundamentals are accelerating and supply is constrained, vacancy in the highest quality assets is at a premium and rents throughout the CBD are poised to spike sharply.”
