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Torose Equities And Merrimac Ventures Acquire 6302 Corporate Center Office Building In Tampa For $31M

Property Image
SOLD
$31,000,000
Courtney Snell
Dale Peterson
+ 2

Florida

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Office350,000 SF
Sold 09/29/2023
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Property Image
SOLD

Torose Equities And Merrimac Ventures Acquire 6302 Corporate Center Office Building In Tampa For $31M

Office350,000 SF
Sold 09/29/2023
Courtney Snell
Dale Peterson
+ 2
Contact now

Summary

Asset Type:Office
Price Per Square Foot:$88
Total Square Footage:350,000 SF
Transaction Type:Sale

The 6302 Corporate Center in Tampa has been purchased by Torose Equities and Merrimac Ventures for $31 million. The office building, which spans 350,000 square feet, was originally developed as an outlet mall in 1984 and later converted into office space. The property holds long-term cash flow potential and offers future development opportunities, according to Scott Sherman, the founder and principal of Torose Equities.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $31,000,000
  • Address: 6302 Corporate Center, Tampa
  • Market: Tampa
  • Acres: 50

The acquisition of the 6302 Corporate Center involved Torose Equities, represented by Scott Sherman, and Merrimac Ventures, represented by Dev Motwani and Nitin Motwani. They purchased the property from B&L Investments Interstate, represented by Brad Luger. The deal was facilitated by brokers Dale Peterson, Joe Chick, Kristen Hagen, Courtney Snell, and Nick Sharpe of CBRE.

Players

Joe Chick
9 deals$197.6M volume
BROKER

Courtney Snell
CBRE
7 deals$122M volume
BROKER

Dale Peterson
CBRE
8 deals$147M volume(183) 273-8409
BROKER

Kristen Hagen
CBRE
6 deals$107.5M volume
BROKER

Nick Sharpe
CBRE
5 deals$107.5M volume
BROKER

Details

SOLD
IMAGE: Joe Chick, Courtney Snell, Scott Sherman, Dale Peterson, Dev Motwani, Kristen Hagen, Nitin Motwani & Nick Sharpe DATE: 09/29/2023 ADDRESS: 6302 Corporate Center MARKET: Tampa ASSET TYPE: Office ~ ACRES: 50 BUYER: Torose Equities (@ToroseEquities) - Scott Sherman; Merrimac Ventures - Dev Motwani (@Motown_Fll) & Nitin Motwani SELLER: B&L Investments Interstate - Brad Luger BROKERS: Dale Peterson, Joe Chick, Kristen Hagen (@KristenCRE_TampaBay), Courtney Snell & Nick Sharpe - CBRE (@CBRE) SALE PRICE: $31,000,000 SF: 350,000 ~ PPSF: $89 NOTE: Torose Equities and Merrimac Ventures have purchased the 6302 Corporate Center in Tampa for $31 million. The 350,000-square-foot office building, developed as an outlet mall in 1984 and later converted to office space, presents long-term cash flow potential and future development opportunities, according to Scott Sherman, Torose's founder and principal.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

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