WeWork Place, Westshore office buildings sell for $155M+
November 25, 2019 - Commercial Florida Realty Partners has sold WeWork Place in downtown Tampa and several Westshore office buildings to an affiliate of Parkway Properties in partnership with global investment firm Partners Group. The properties involved in the transaction total 756,138 rentable square feet, with a total sales price of over $155 million, a news release said. WeWork Place at 501 E. Kennedy Blvd., named for the co-working company that took three floors earlier this year, has undergone a $5.3 million renovation and is 89 percent occupied, the news release said. Commercial Florida also spent $7.5 million to update its Westshore office portfolio, which includes Westshore Corporate Center, a 12-story Class A office tower at Westshore Boulevard and I-275, as well as Cypress Center I, Cypress Center II and Cypress Center III, and a 6.1-acre developable parcel of land with entitlements for a future six-story, 200,000-square-foot office building, to be called Cypress Center IV.