Dilweg Acquires Concourse Center in Tampa
DURHAM, N.C. (May 1, 2019) – Commercial real estate investment firm, The Dilweg Companies, announced today the acquisition of Concourse Center in Tampa.
Concourse Center consists of four, three-story office buildings located in Tampa’s Westshore submarket, between I-275 and the Tampa International Airport. The buildings total nearly 295,000 square feet and were built between 1982 and 1984. Concourse Center was 90 percent leased at the time of sale. Major tenants include BayCare Medical Group, State of Florida, Enterprise, and Pegasus TSI.
“We are very excited to expand our Tampa office footprint with the acquisition of Concourse Center,” said Anthony Dilweg, CEO of The Dilweg Companies. “We believe in the strengthening fundamentals of the Tampa metro and look forward to repositioning these assets.”
Dilweg plans to invest more than $4 million to improve the buildings’ operating systems, common areas and tenant amenities and provide a “best in class” office experience for existing and future tenants.
The purchase of Concourse Center brings Dilweg’s Florida office holdings to nearly 1.2 million square feet and Southeast office holdings to nearly 6.5 million square feet. The firm also owns six other Florida office assets: Sarasota City Center in Downtown Sarasota, Lakeview at Hidden River and Tampa Oaks One in Northeast Tampa, Westlake Corporate Center I and II in Northwest Tampa, Orion Center in Rocky Point, and 9000 Town Center in Lakewood Ranch. Dilweg opened its Florida office in 2017.
About The Dilweg Companies
The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $1.74 billion in assets and more than 11.6 million square feet throughout North Carolina, Georgia, Florida and Tennessee. For more information, please call (919) 402-9100 or go to www.dilweg.com.