TAMPA, FL—Small private investors are getting back into the retail acquisitions game in Florida. Walk at Highwoods Preserve II, a 28,452-square-foot retail center, recently traded hands for an undisclosed amount.

B & L Investments, a Tampa-based private investment group, snapped up the property from an institutional seller. The seller, a joint venture whose majority partner is an affiliate of TIAA-CREF, was represented exclusively by Mark Shellabarger, senior vice president of CBRE’s Private Capital Group in Tampa.

“This is an example of a smaller property just didn’t fit in the institutional owner’s portfolio anymore,” Shellabarger tells GlobeSt.com. “It was time for them to move on. That left room for a private investor to come in to the deal.”