The undeveloped property at the northeast corner of South Lakewood Drive and Brandon Parkway will have 600 multifamily units and 75,000 square feet of mixed-use buildings and stores on 55 acres, which is one of the largest remaining undeveloped parcels in Brandon.

A tenant in the Fisher Brothers' building since 1983, the diplomatic representative is staying in the Plaza District tower for another 17 years.

The fund sold the 1,194-unit apartment portfolio for $137.5 million after it invested $5 million in property upgrades.

The recent earthquakes in Southern California has property owners reevaluating earthquake protocol systems.