Kennedy Investments is pleased to announce the acquisition of the Greyhound Bus Station property in downtown Tampa. The property, located at 602 E. Polk Street, is comprised of a 11,302 sq. ft. building on a .57-acre parcel. Greyhound plans to vacate the property but will be leasing it back through the end of the year.
The Greyhound Station is a concrete masonry building that was constructed in 1962, and has served as downtown Tampa’s Greyhound bus terminal for sixty years. The intercity bus industry has been in decline for decades, and the coronavirus pandemic has accelerated this trend. The downtown Tampa bus station is showing its age and the owner’s financial condition. The building has become an eyesore and magnet for loitering, panhandling and petty crime, depressing surrounding property values and discouraging investment in the neighborhood.
At the same time, downtown Tampa is experiencing an historic influx of new residents and is transforming into a vibrant urban community. These trends, combined with its location within a Qualified Opportunity Zone, have contributed to land values in downtown Tampa skyrocketing over the last 24-months.
The Greyhound property acquisition is part of Kennedy Investments’ strategy to redevelop an underutilized area of downtown Tampa. Currently dubbed “The North End,” the roughly four-block area includes the Greyhound property and three adjacent parcels also owned by Kennedy Investments. While the building is salvageable and could be repurposed, we are exploring redevelopment for higher more complementary purposes within the North End development.
“Redevelopment of the Greyhound Bus Station is a key part of Kennedy Investments’ effort to transform the North End of downtown Tampa.” said Jay Kennedy, President of Kennedy Investments.
Please direct leasing inquiries to Ryan Hutkowski of Kennedy Investments at (813) 554-1212 or Ryan@KennedyInvestments.com.
About Kennedy Investments, Inc.
Kennedy Investments is proud of its legacy of investing in Florida real estate for fifty years. Our history began with David Kennedy’s first acquisition in 1970, and thanks to the contributions of our loyal employees and clients, is thriving under the leadership of Jay Kennedy today. The firm offers commercial real estate investment opportunities as well as property management and leasing services, and currently operates a diverse real estate portfolio valued at over $150M in the greater Tampa Bay area. Learn more at www.KennedyInvestments.com.
