Belleair Development has acquired Shoppes at Park Place for $85 million. The property is a 361,250-square-foot, super-regional shopping center on approximately 42 acres in the middle of Pinellas County.

JLL represented the seller, while Belleair Development, led by Carlos Yepes and Christian Yepes was represented by CBRE. The buyer obtained a $51 million loan to purchase the property.

Built in 2006, the 97.4-percent-occupied Shoppes at Park Place is anchored by Regal Cinemas, Academy Sports, Conn's Home Plus, Marshalls, Michaels and Petco, and junior-anchored by Five Below, Famous Footwear and Dollar Tree. The center has 10 outparcels, featuring Chick-Fil-A, Starbucks/Chase Bank, Panera Bread/Mattress Firm, BJ's Brewhouse, Panda Express, Pollo Tropical, Applebee's Bar and Grill. Wells Fargo, PNC Bank, Chipotle and Florida Blue, and the site is shadow anchored by a Target with grocery. Belleair will be adding more retail to the property, as well as hotel and multi-housing.