The Austin Center, an office park in the heart of the Westshore business district, has been sold to an investment firm controlled by Tampa real estate executive Andrew Wright.
Wright's Ally Capital Partners acquired the 300,000-square-foot, five-building office complex from Redstone Investments in a deal that closed Jan. 16. A purchase price was not disclosed, and a deed for the transaction has not yet been filed.
The Austin Center is one of the most closely watched properties in Tampa. At just shy of 10.5 acres, it has long been considered a massive redevelopment play — a prime site for a mixed-use project that could tie into a nearby multimodal transit hub, an idea that's been floated by business and political leaders for years.
"It’s a generational asset that's had two owners in 50 years," Wright, the founder and CEO of Franklin Street Financial Partners, said. "It’s a good piece of property."
For the foreseeable future, however, the Austin Center will remain an office park. Matt Chadwick, director of Ally Capital Group, said in a statement that the renovations could span two years and will "reposition Austin Center’s profile as a prime workplace address in the heart of the Westshore District.”
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