Bridge Investment Group subsidiary Bridge Office Fund Manager has acquired Tampa Commons for around $57 million, according to media reports. The acquisition of the 13-story, 253,922 square-foot office building marks Bridge's return to the metro Tampa Bay office market, and further bolsters the company's Florida portfolio with nearly 2.4 million total square feet across nine properties.
Bridge departed from the Tampa office market last year, according to Kelly Kuykendall, director of asset management for Bridge Investment Group.
Originally built in 1985, Tampa Commons received more than $3 million in improvements in 2018, including a new covered mezzanine, upgrades to first-floor lighting, floors and furniture as well as the addition of a tenant conference room, concierge desk and management office.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
