South Florida investors buy Westshore office building
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: May 17, 2023

A South Florida private equity group has added a third property to its portfolio of Westshore office buildings.

Balogh Family Partnership paid $14.25 million for One President’s Plaza, Colliers Tampa Bay said. The building, which will be renamed Veterans Plaza, is 96,376 square feet. The same group also owns Fountain Square Centre and George Road Business Park.

The seller was Tampa Eisenhower LLC, a private equity firm. The building is 86% leased; the largest tenant, Arrive Logistics, occupies 26,345 square feet.

A team from Colliers Tampa Bay — Paul Carr, Todd Tolbert and Nicholas Coccodrilli — represented the seller in the transaction “with advisory support from the seller’s leasing team of Ryan Reynolds, Molly Molloy Catlett and Jackson Kilcoyne of CBRE.”

Kyle Chaikin of Franklin Street represented the buyer in the transaction and will market the building for lease.

“The buyer was looking to expand on their presence in Tampa’s Westshore submarket, in addition to satisfying a 1031 exchange requirement,” Carr, executive managing director, said. “The seller owned and managed the property to a high standard for roughly 15 years, had a favorable basis, and plans to deploy the capital in other investments.”