South Florida firm, partner acquire Tampa office building for $29.4M

North Miami Beach-based Galium Capital entered into a joint venture to buy the Fountain Square II office building for about $220 per square foot

TRD MIAMI /
Jul.July 28, 2019 04:00 PM

Fountain Square II in Tampa (Credit: Tampa Bay Business Journal)

A South Florida firm and its joint-venture partner acquired a four-story office building in Tampa for $29.4 million.

North Miami Beach-based Galium Capital and venture partner Owens Realty Capital paid about $220 per square foot for the  Fountain Square II office building in the Westshore area of Tampa.

Built in 1989 about two miles from Tampa International Airport, the curvilinear Fountain Square II building has undergone more than $2 million of capital improvements since 2015.

With lease rates near $30 per square foot, the building is 93 percent leased. Its anchor tenants are CarePlus (42,903 square feet), ConnectWise (39,031 square feet) and the Social Security Administration (35,672 square feet).

The Tampa office building at 4925 Independence Parkway has 133,887 square feet of interior space and 519 structured-parking spaces. Herman Rodriguez and Ike Ojala in the Miami office of HFF brokered the transaction.

Galium Capital and Owens Realty Capital also jointly acquired a 67,500-square-foot office building at 3001 PGA Boulevard in Palm Beach Gardens last November for $25.1 million, or about $372 per square foot. – Mike Seemuth


Related Articles

arrow_forward_ios
119 Washington Avenue Miami Beach

South Beach office building inks lease for record $92 psf

South Beach office building inks lease for record $92 psf
Banyan Street Capital CEO Rudy Prio Touzet and the two towers (Credit: Google Maps)

Banyan Capital buys Doral office towers for $43M

Banyan Capital buys Doral office towers for $43M
Rishi Kapoor with Forum Coral Gables

Co-working virtually: Coral Gables space rolls out memberships

Co-working virtually: Coral Gables space rolls out memberships
Scott Schoenlank, Andor Kovacs and 6041-6047 Kimberly Boulevard, North Lauderdale (Linkedin, Google Maps)

Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M

Restoration 1 franchise founder buys North Lauderdale office and retail center for $6M
Scott Brenner, Joe Tuttle, and 225 North Federal Highway (Credit: Google Maps)

Addiction treatment firm Banyan buys Pompano Beach office tower for $6M

Addiction treatment firm Banyan buys Pompano Beach office tower for $6M
Charles Cohen and a rendering of the project (Getty, Pelli Clarke Pelli Architects)

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm

Billionaire Charles Cohen proposes 338-foot tall office tower in West Palm
4700 North Congress Avenue and Velocis Managing Partner Fred Hamm (Google Maps)

Private equity firm sells West Palm medical offices at discount

Private equity firm sells West Palm medical offices at discount
Swire president Kieran Bowers and Brickell City Centre (Google Maps)

Swire sells Brickell City Centre office buildings for $163M

Swire sells Brickell City Centre office buildings for $163M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...