Tuesday, December 1, 2015

Class A retail center sells for $25.5 million in Clearwater, FL

Michael Milano
CLEARWATER, FL – An affiliate of North American Development Group has purchased Courtyard at Countryside, a prominent retail center in Clearwater, for $25.5 million.

The center is anchored by Kohl’s and Total Wine & More and is located at 2514-2532 State Road 580, across from the Westfield Countryside shopping mall. It was fully leased at the time of sale.

Michael Milano, CCIM, MAI, and Ron Schultz of Colliers International Tampa Bay represented the seller, Skylark Plaza, LLC, which developed the property in 2008.

“Class A retail properties like Courtyard at Countryside are very much in demand,” said Milano, Managing Director, Retail Investment Services for Colliers International Tampa Bay. “Recognizing this, the seller decided to take advantage of the favorable market conditions.”

Ron Schultz
Courtyard at Countryside is home to a number of other well-known tenants, including Panera Bread, EverBank, Salon Lofts, Sport Clips and Tijuana Flats. 

In addition to being located on a prominent corner, it is directly across from Westfield Countryside, a 1.3-million-square-foot mall anchored by Dillard’s, Macy’s, JCPenney, Sears and Whole Foods.

“Courtyard at Countryside is well-positioned within a highly successful concentration of regional retail properties,” said Schultz, Director, Retail Investment Services for Colliers International Tampa Bay. 

“The property’s large trade area and quality tenant mix make this a top-quality asset to add to the buyer’s existing portfolio of retail properties.”

North American Development Group (NADG) is one of North America’s leading shopping center acquisition and development companies. For almost 40 years NADG has been active in the development, acquisition, redevelopment and management of over 250 shopping centers totaling more than 30 million square feet, with an enterprise value of over $3.5 billion.

For a complete copy of the company’s news release, please contact:

Leah Saunders 
Senior Account Executive
B2 Communications
p 727.895.5030 x104 | c 813.924.0367

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