The sale of the two retail centers highlights a new investment retail trend, the brokers are seeing. Feinstein, C&W's director of financial services, points to a sharp increase in investor interest over the past four months for non-institutional quality retail centers such as the Shoppes of Carrollwood and Colonial Square.

"Such properties are generating as many as 15 to 20 offers from credible investors," the broker says. "We have seen this type of investor frenzy for the Publix-anchored centers for some time, but this type of interest in the non-Publix centers is relatively recent, and we attribute it to a staggering amount of capital chasing real estate."

Feinstein says the sale of the two centers went quickly because buyer and seller were motivated to do the deal. The properties were marketed for 45 days. From contract signing to closing was another 75 days. The average asking base rent range is $15 per sf to $24 per sf.

"Schiff-Turnberry acquired the properties a little over two years ago with the intent of quickly stabilizing the asset to facilitate a sale," he says. "They have done a terrific job raising the occupancy in a short period of time and generally upgrading the quality of the tenancies, which has allowed them to take advantage of today's exceptionally strong investment market."

On the buyer's side, Fidelity Management acquires "exceptionally well-located, successful neighborhood retail centers that will offer a secure and growing income stream over a long holding period," Feinstein predicts. Fidelity represented itself in the transaction.