Parmenter Realty Partners acquired the Rocky Point Centre for $35.1 million. The 181,000-square-foot office scheme is located in the Rocky Point business district. The seller, Atlanta-based Invesco Ltd, purchased the office center through a subsidiary in May 2000 for $27.7 million. The transaction was completed with a $25.3 million loan from Bank of America.
“The acquisition of Rocky Point Centre demonstrates Parmenter’s commitment to the Tampa market, as it is Parmenter’s third building in the Rocky Point micro-market, along with Island Center and Waterford Plaza,” said John Davidson of Parmenter. “Rocky Point consistently leads the Westshore submarket and the overall Tampa MSA in occupancy as well as rental rates. Much of the area’s success is due to the expansive water views from the island as well as the central location, restaurant amenities and accessibility to Clearwater and SR 589/Memorial Highway. With this acquisition, Parmenter now owns and manages 680,000 square feet of class A space in Rocky Point.”
