Sarasota-based ICORR Properties has closed on the purchase of the Shoppes at Boyette on behalf of an asset management client for $3.225 million. The 33,950 sqf center is located south of Tampa at the northwest quadrant of Boyette Road and Balm Riverview Road. The property, which is currently 68-percent occupied, has tenants such as Anytime Fitness, Domino’s Pizza, Kumon Learning Center, and South Beach Tanning Company. Five of the existing tenants renewed their leases in 2016. CBRE represented the seller, a California-based company, in the transaction
“CBRE provided the full scope of services to the seller, an institutional owner that acquired the property from an acquisition of another company,” said Mark Shellabarger, senior vice president, CBRE. “In late 2015, CBRE took over the leasing and property management of the center and was able to stabilize the existing tenants and attract a new tenant. Subsequently, CBRE marketed the property for sale and received more than ten offers on the asset.”
