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Westshore Towers being snatched up | Business

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Westshore Towers being snatched up
Business, News
Westshore Towers being snatched up

Tampa, Florida-- The Westshore business district is booming, and several acquisitions by out-of-state corporations support that.  The latest purchase is a doozy.

Raleigh, NC-based Highwoods Properties Inc. announced the acquisition of Colonial Place I and II for $56 million. Colonial Place I and II are two 10-story properties spanning 372,000 square feet with structured parking, and are located adjacent to another Highwoods' Class A office property - 4200 Cypress. 

The company acquired the 94% occupied, 220,000 square feet building in 2009, and intends to group all three buildings together and rebrand them as Meridian One, Two and Three.

Highwoods owns 16 office buildings in the Westshore business district. The properties, spanning 2.4 million square feet, are around 88.4% occupied.

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