SRS' Investment Properties Group executed a high-exposure marketing strategy after taking over the listing, which had been on the market for a year and had recently fallen out of a 45 day contract. Upon being brought in to market the property, SRS went to work, touching each and every active retail buyer, and generating six quality offers in the first four weeks before selecting the eventual purchaser.
Deal Strengths
- New strip center with excellent nationa tenant line-up highlighted by Starbucks
- Solid Tampa sub-market with a good demographic profile
- Excellent retail fundamentals include a signalized corner, abundant access and high visibility
Deal Challenges
- Proprty has previously been on the market for a year with another broker
- Less than four years remaining on leases
- Starbucks has an Early Termination Option
Overview
ASSET SOLDRetail Strip Center |
YEAR BUILT2016 |
SALES PRICE$3,725,000 |
REGIONAL/NATIONAL TENANTS
|
OCCUPANCY100% |
LAND AREA1.19 +/- AC |