Torose, Merrimac Buy 350 KSF Tampa Office Asset

6302 Corporate Center

Torose Equities and Merrimac Ventures have purchased 6302 Corporate Center, a 350,000-square-foot office building in Tampa, Fla., for $31 million. The seller was B&L Investments, which had acquired the property in 2014 for $27.5 million, according to CommercialEdge data.

Centennial Bank provided a $20.8 million loan to 6302 Torose LLC for the acquisition and improvements of 6302 Corporate Center. The Tampa asset represents Torose’s first purchase since the company launched in late 2022, an acquisition that can generate a strong return on investments. The firm focuses on value-add, urban retail, office and mixed-use properties in the Southeastern U.S.

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According to a recent CommercialEdge report, office transactions slowed down in the second half of 2022. Tampa closed the year with $847 million in deals at an average $256 per square foot, followed by Atlanta ($197 per square foot), Dallas ($188 per square foot) and Orlando ($176 per square foot). In one of the late-year deals, FLRE Investors acquired a 171,752-square-foot, fully occupied office property in Odessa, Fla., for $38.9 million.

Torose’s first investment

Originally built in 1984 as an outlet mall, the asset was converted into a multi-tenant office building in 1998. The one-story building at 6302 E. Doctor Martin Luther King Jr. Blvd. has large floorplates, an atrium lounge and recently upgraded common areas. The 50-acre property also includes two lakes and 1722 parking spots.

In the last year, leasing activity at the property totaled some 95,000 square feet. The tenant roster features companies such as Health Plan One, Concentrix and Public Consulting Group, CommercialEdge shows.

Situated in East Tampa’s growing hub, the property is 6 miles from downtown Tampa, adjacent to Interstate 4. Tampa International Airport is 12 miles west.