Tampa Grocery-Anchored Center Sells For $8M

TAMPA-Grocery-anchored neighborhood shopping centers continue to generate high-end prices in Central Florida. Capital LLC of Brookfield, WI paid $8.18 million or $93.97 per sf for the 13-year-old, 98.5%-leased Shoppes of Amberly in the Tampa Palms area of North Tampa after being on the market for only two months.

Cushman & Wakefield retail financial investment specialists Jim Michalak and Patrick Berman negotiated for the seller. The corporate buyer, a licensed broker in Wisconsin, represented itself.

The 87,000-sf, 1990-constructed center, sold by Palm Lakes LLC of Lexington, KY., has 25 tenants with a single vacancy. The average asking rent range is $15 per sf to $16 per sf net. Lifestyle Family Fitness anchors Shoppes of Amberly. Re/Max, Hungry Howie’s and State Farm Insurance are among the tenants.