Equity Management Partners acquired Tampa Bay Center, a urban infill shopping center in Tampa’s Westshore Business District. Located on an 11.5 acre site, the 142,350 sq ft retail center is anchored by Ashley HomeStore and Floor & Décor. The Tampa Bay-based buyer paid $27m or just over $190 per sq ft for the asset. Currently 97 percent leased, other notable tenants include The Tile Shop, Dollar Tree, Metro PCS and a free-standing WingHouse. Cushman & Wakefield negotiated the sale on behalf of the seller, Five RE Tampa Bay Center.
“The previous owners of this property were highly successful in repositioning it as a top retail asset capable of retaining and attracting a diverse and stable mix of creditworthy tenants,” said Jason Donald, managing director of Cushman & Wakefield. “We received significant interest in this property, and ultimately, we are pleased to have selected a local firm with strong track record in the Tampa Bay market as the buyer.”
