TAMPA, FL—DeSoto Square Mall, a 678,377-square-foot enclosed regional shopping mall in Bradenton, has a new owner. The retail asset traded for $24.6 million.

An affiliate of New York-based Mason Asset Management acquired the shopping mall from a wholly owned subsidiary of Simon Property Group. CBRE represented the seller, with Peter Stevens from the Wayne, PA office, Dave Conn from the Tampa, FL office, and Casey Rosen and Nik Kozy from CBRE’s Miami-based National Retail Investment Group Team for Florida, working together on the deal.

“The buyer was interested in high quality in-fill real estate and a property with the potential for value creation,” Rosen, a senior vice president with CBRE in Miami, said in a statement. “They are planning to make improvements to the mall and add value through leasing vacancy.”