Plaza Advisors Brokers Sale of Trophy Southtown Center in Tampa, FL

Southtown Center, Tampa, FL

TAMPA, FL -- Jim Michalak, the lead on the Plaza Advisors disposition team, stated that “this asset was highly sought after by both private and institutional investors resulting in: numerous offers, premium pricing and an expeditious due diligence and closing timeline”.

Jim Michalak

Furthermore, Jim stated, “In today’s E-Commerce sensitive capital markets environment the property commanded a lot of investor attention primarily due to three factors. 

One, its tenant base was relatively internet resistant and was composed of personal care, restaurant and service related tenants”.

 Second, the Publix store, located across the street, is one of the highest sales volume stores in Central Florida.

 Lastly, besides its location, in the epicenter of South Tampa, and affluent demographics the income stream was not reliant on big box users”.

This is the third sale located on Dale Mabry,  for Plaza Advisors, over the past few years. Michalak’s team sold the Winn Dixie Center, just north of I-275 and Marketplace North II in Carrollwood. The aggregate total of these transactions exceeded $43 million.

Michalak declined to identify the sale price of Southtown Center but according to Hillsborough County records it sold for $19.75 million which equates to $452 per square foot.

 For more information, please contact:

Jim Michalak

Managing Partner

Plaza Advisors

jim.michalak@plazadvisors.com

3412 Bay To Bay Boulevard

Tampa, FL 33629

813.837.1300 Ext. 1

Fax 831.2627

 www.plazadvisors.com