ST. PETERSBURG, Fla. (AP) - The Times Publishing Co., parent of the Tampa Bay Times, has sold its downtown St. Petersburg headquarters for $19 million to a joint venture of Convergent Capital Partners and Denholtz Associates.
The company made the announcement Friday.
The Times will stay under a 15-year lease as a major tenant, occupying nearly half the building, and the newspaper’s name will continue to adorn its flagship location.
The Times already has a tenant/landlord relationship with Denholtz, which also owns a building in downtown Tampa that houses the newspaper’s Tampa bureau.
Tampa-based Convergent Capital, a real estate equity firm, has been an aggressive player in the bay area, particularly in downtown St. Petersburg. Among other properties, it bought the former downtown headquarters of Universal Health Care two years ago for $10.5 million.
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