Brian K. Stock Of Stock Development Acquires 601 North Ashley Drive In Tampa For $40M
601 North Ashley Drive
$40,000,000
Building Size
—
Asset Type
Office
Closing
Jul 21, 2025
About this deal
AI
The property asset involved in the transaction is a 0.9-acre lot located at 601 North Ashley Drive in downtown Tampa. The sale price for the property was $40,000,000. The asset is categorized as an office space.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $40,000,000
- Buyer: Brian K. Stock - Stock Development
- Seller: Rudy Nassri - TLR Group
- Market: Tampa
- Acres: 0.9
- Approvals: 48-story tower secured by seller
Brian K. Stock of Stock Development initiated the acquisition from Rudy Nassri of TLR Group. Stock Development plans to pivot from TLR’s original apartment project to luxury condos, potentially implementing a branded residence on the site, capitalizing on its full-block footprint and unobstructed views across from Curtis Hixon Park.
On the Map
$40,000,000
Office
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Tampa Office Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93