Tampa’s largest office building, NetPark Tampa Bay, has been sold for $45 million to New Jersey-based real estate investment firm Saxum Real Estate Partners. The seller was California’s Bluett Capital Realty, Inc., and the sale was facilitated by a CBRE team led by Dale Peterson. This transaction marks the Southeast region’s biggest office property sale since 2022 and is a significant milestone in Hillsborough County.
Spanning almost 1 million square feet over two stories, NetPark Tampa Bay was originally built as East Lake Mall in 1976 before being converted into offices in the 1990s. At the time of its sale, it had already reached a leasing rate of 60%. Its previous purchase price in 2005 was $42.35 million.
This recent acquisition highlights Tampa’s growing commercial real estate market and solidifies its position as an attractive location for investors seeking high-quality properties with promising potential for growth and profitability.
