Eisenhower Property Group has closed an all-cash deal for 701 N Westshore Blvd in Tampa. The property includes a 3-story office building on .60 acres and is more than 60% occupied. The purchase gives the company another key site in the Westshore Business District.
This post breaks down what happened, why it matters for Tampa business leaders and what to watch next.
What happened
Eisenhower Property Group bought 701 N Westshore Blvd, a site that includes an 18,500-square-foot office building built in 2000. The building is more than 60% occupied.
The company also recently bought the adjacent parcel at 4600 W Cypress Street. That property sits on 2.6 acres and includes a 60,000-square-foot office building.
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Jeffery Hills, President and CEO of Eisenhower Property Group, said the company is still planning how these properties will connect.
“Like our recent acquisition of Westshore Square, there are no immediate plans for these sites as we continue to lay the foundation for a connected and impactful footprint in Tampa’s thriving Westshore Business District,” Hills said.
Both sites together total more than 3 acres in one of Tampa’s busiest commercial corridors.
Why this matters
This acquisition signals several trends in Tampa’s real estate market.
- Westshore is entering a new growth cycle
- The district continues to attract companies seeking mixed-use space near Tampa International Airport and major highways.
- Assemblages in Westshore are rare
- Owning two connected parcels gives Eisenhower Property Group more flexibility for long-term planning
- Eisenhower Property Group is expanding its focus
- The company is known for large residential projects with more than 25,000 lots under development. Recent additions such as Kinward Living and Baywin Construction show a move toward full-service development that includes residential and commercial assets
- Demand for Westshore redevelopment continues to rise
- Land is limited in the district, which makes every large acquisition notable
What’s next
There are no redevelopment plans at this time. Eisenhower Property Group will evaluate how the two parcels fit into the district’s long-range strategy.
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The company has the in-house capability to move quickly once plans are set. Its recent expansion includes a build-to-rent platform, a construction arm, a commercial services group and a brokerage division.
Any redevelopment plans are likely to take shape over the next 12 to 18 months.
Takeaway
Eisenhower Property Group’s acquisition of 701 N Westshore Blvd strengthens the company’s presence in the Westshore Business District. The purchase adds another key site to its growing portfolio and sets the stage for future mixed-use development in one of Tampa’s most active commercial areas.
