Parkway Properties picks up vacant Westshore land near International Plaza
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 6, 2015

Parkway Properties Inc. has added some prime vacant land to its Westshore portfolio.

The Orlando-based real estate investment trust paid $4.85 million for two parcels that total 12 acres at 2202 N. Lois Blvd and 4352 W. Boy Scout Blvd., according to a Hillsborough County deed filed Monday.

Parkway also acquired a ground lease on the property from Concorde Companies LLP for $4.7 million.

It is not clear what plans Parkway has for the property. A Parkway spokesman declined comment. The REIT is not traditionally a developer, though it does have one property under development in Phoenix.

The sale closed on New Year's Eve, according to the deed. Charlotte, N.C.-based Crescent Communities was the seller. The land is arguably among the best infill sites in Westshore, in the heart of a mixed-use district that includes International Plaza, Fleming's Prime Steakhouse & Wine Bar, Roy's and several office buildings and hotels.

Parkway recently closed on nearby office buildings Corporate Center I, II and III, buying a 22-property, $475 million portfolio just to retain those three buildings.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.