MIAMI—Palms of Carrollwood, a 167,887-square-foot retail center anchored by The Fresh Market in Tampa, FL, has traded hands. The sale price was not disclosed.
HFF arranged the sale on behalf of the seller, Weingarten Realty Investors. Wallace Enterprises purchased the asset free and clear of existing debt.
“The strength of the Carrollwood submarket in Tampa combined with the long-tenure of the national tenancy at this location were key factors in getting this transaction closed,” HFF associate director Whitaker Leonhardt tells GlobeSt.com. “There is a great investment appetite for well-located shopping centers in infill markets throughout the southeast US, and the sale of Palms of Carrollwood, which is located in one of the most desirable submarkets in Tampa, further supports that message. Tampa's dynamic economy, strong employment growth and low retail vacancy rates support rent growth over time and the continued success of best-in-class retailers in good locations.”
In addition to The Fresh Market, the 91.3-percent-leased Palms of Carrollwood is home to a variety of national and regional tenants, including Bed Bath & Beyond, Petco and Sam Ash Music. Sitting on 15.4 acres at 13147 North Dale Mabry Highway, Palms of Carrollwood is located between Interstate 275 and Veterans Expressway at the signalized intersection of Dale Mabry Highway and Fletcher Avenue.
Put another way, the retail enter is on the “going home” side of the road for those commuting from Downtown Tampa, the airport and Interstate 275. Carollwood is home to more than 102,000 residents earning an average annual household income of $73,953 live within a three-mile radius of the center. The HFF investment sales team was led by Leonhardt and senior managing director Brad Peterson.
Who will be the winners in retail real estate? Find out in my recent article. You can also read about a retail consumer trend fewer are discussing.
MIAMI—Palms of Carrollwood, a 167,887-square-foot retail center anchored by The Fresh Market in Tampa, FL, has traded hands. The sale price was not disclosed.
HFF arranged the sale on behalf of the seller, Weingarten Realty Investors. Wallace Enterprises purchased the asset free and clear of existing debt.
“The strength of the Carrollwood submarket in Tampa combined with the long-tenure of the national tenancy at this location were key factors in getting this transaction closed,” HFF associate director Whitaker Leonhardt tells GlobeSt.com. “There is a great investment appetite for well-located shopping centers in infill markets throughout the southeast US, and the sale of Palms of Carrollwood, which is located in one of the most desirable submarkets in Tampa, further supports that message. Tampa's dynamic economy, strong employment growth and low retail vacancy rates support rent growth over time and the continued success of best-in-class retailers in good locations.”
In addition to The Fresh Market, the 91.3-percent-leased Palms of Carrollwood is home to a variety of national and regional tenants, including Bed Bath & Beyond, Petco and Sam Ash Music. Sitting on 15.4 acres at 13147 North Dale Mabry Highway, Palms of Carrollwood is located between Interstate 275 and Veterans Expressway at the signalized intersection of Dale Mabry Highway and Fletcher Avenue.
Put another way, the retail enter is on the “going home” side of the road for those commuting from Downtown Tampa, the airport and Interstate 275. Carollwood is home to more than 102,000 residents earning an average annual household income of $73,953 live within a three-mile radius of the center. The HFF investment sales team was led by Leonhardt and senior managing director Brad Peterson.
Who will be the winners in retail real estate? Find out in my recent article. You can also read about a retail consumer trend fewer are discussing.
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