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Walmart-Anchored Shopping Center Trades Hands

ORLANDO—“There is a relatively short supply of shopping center sales with Wal-Mart as a tenant.”

By Jennifer LeClaire | jenniferleclaire | | Updated on May 17, 2016
The retail center sits on 12.8 acres at 10863 West Bloomsdale Avenue—the “going home” side of both Bloomingdale Avenue and Providence Road in Riverview. The retail center sits on 12.8 acres at 10863 West Bloomsdale Avenue—the “going home” side of both Bloomingdale Avenue and Providence Road in Riverview.
ORLANDO—Bloomingdale Hills, a 78,442-square-foot, grocery-anchored shopping center in the Riverview area of Tampa, FL, has traded hands. The sale price: $9.2 million. Phillips Edison Grocery Center REIT II purchased the asset free and clear of existing debt. HFF senior Brad Peterson and associate director Whitaker Leonhardt represented the seller. “The desirability of the Riverview area of Tampa combined with the Wal-Mart anchor were key factors in getting this transaction closed,” Leonhardt tells GlobeSt.com. “HFF continues to be very active in retail investment sales in Tampa, this being the sixth shopping center sale that HFF has facilitated since 2015. Renovated in 2012, Bloomingdale Hills is anchored by Wal-Mart Neighborhood Market, the second largest grocer in central Florida. The 95.4%-leased center is also home to a number of other shop tenants, including Great Expressions Dental and Great Clips. ”Bloomingdale Hills was an attractive offering for investors to gain exposure to Wal-Mart’s very strong credit,” says Leonhardt. “With all of the attention received by other grocery-anchored assets, especially in Florida, there is a relatively short supply of shopping center sales with Wal-Mart as a tenant.” The retail center sits on 12.8 acres at 10863 West Bloomsdale Avenue—the “going home” side of both Bloomingdale Avenue and Providence Road in Riverview, an area in southeastern Tampa about nine miles from downtown. Bloomingdale Hills is located in an infill corridor at the confluence of Interstate 75 and US 301, the primary north-south roadways in the area. A six-page report analyzes a range of retailers and their relative health and stability based on store openings and closings, earnings reports, forecasts and market activity announcements.  Click here to see the findings.

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