Monday, April 16, 2012
TAMPA, FL, April 16, 2012 -- Plaza Advisors is pleased to announce the sale of the Collins Park Commons shopping center (top left photo) located in Plant City, Florida.
The asset is situated at the intersection SR 39 and Park Road. The shopping center contains 37,458 square feet of total of gross leasable area and is anchored by a 29,000 sf Tractor Supply store. The improvements were constructed in 1989 and the occupancy was 90% at the time of sale.
Plaza Advisors represented the seller in the transaction and was the sole broker involved in the transaction. The seller and buyer were RCG Ventures, LLC and Coastal Equities, respectively.
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
Phoenix, AZ (April 16, 2012) –Voit Real Estate Services’ Phoenix and Irvine offices have successfully directed the $6.2 million sale of Santan Gateway South (top left photo) on behalf of the seller.
The 57,038 square-foot retail shopping center, located at 1305-1445 South Arizona Ave in Chandler, Ariz., is anchored by Sam’s Club and has a mix of national, regional, and local tenants including Starbucks, Subway, and The Mattress Firm, according to Darren Tappen (lower left photo), Senior Vice President in Voit’s Phoenix office.
Tappen worked with Troy Nelson and Scott Nelson of Voit’s Phoenix office, and Pete Beauchamp of Voit’s Irvine office to represent the seller, one of the country’s largest special servicing companies.
“This property was 40 percent occupied when the seller brought the assignment to Voit, and our in-house asset services team put together a thorough lease-up and disposition strategy,” said Tappen.
“Our team increased occupancy to 66 percent within a few months of taking on the project, bringing the asset much closer to stabilization. The success we had in increasing the occupancy prior to disposition allowed us to market the asset to a broader range of investors, and ultimately yielded the maximum value for our client.”
The buyer, Eleven Investments LLC, was represented by Matthew Olson of Property Resources Group, LLC.
Jenn Quader/ Judith Brower
Brower, Miller & Cole
Niedergang began his career with Marcus & Millichap in July 2007 and has closed 39 transactions with a total value greater than $111 million. Lollio has been with Marcus & Millichap since March 2008. He has closed 49 transactions valued at more than $53 million.