Liberty Property Trust has sold the Renaissance Center office complex in the Westshore neighborhood of Tampa. The buyer, New Jersey-based Vision Properties, paid $108 million for the 573,053 sq ft, five building property. The deal also included a development pad with an active site permit for an additional 111,000-square-foot building. Located at 8705 Henderson Road, the asset traded for just under $203 per square foot. Renaissance Center sits on a 71 acre site with more than 3,000 structured parking spots and was 100 percent leased at the time of closing. Cushman & Wakefield’s Mike Davis, Michael Lerner and Rick Brugge represented the seller in the transaction.“The Tampa office market has continued to outperform many other office markets around the country with approximately 2.25 million rentable square feet of net absorption since 2011,” Anthony Arena, director of acquisitions for Vision Properties, said in a statement. “This can be attributed to the talented labor pool, large tax incentive packages, and low cost of business. The Tampa MSA added 32,900 new jobs in the last 12 months ending June 2015 and 109,300 jobs in the last five years.”
