 |
| 99,336-SF Cortez Road Shopping Center, US 41 & Cortez Road, Bradenton, FL |
TAMPA, FL -- Plaza Advisors is pleased to announce the sale of the Cortez Road Shopping Center, located in Bradenton, Florida.
The 99,336 square foot center is anchored by Planet Fitness, Books a Million, and Furniture Warehouse. Other notable tenants include outparcel users; Mattress Firm and Bob Evans. The asset was 100% occupied at the time of sale.
 |
| Jim Michalak |
The seller was New York based Juster Development. The purchaser was Garner Group, a private equity group based in Atlanta, GA. Jim Michalak and Keith Nurre, senior analyst, represented the seller. Plaza Advisors was the sole broker involved in the transaction.
“The asset location is the strongest in the Bradenton market at the intersection of US 41 and Cortez Road," says Michalak. "Furthermore, the property offers significant upside including; a 1.2 acre unimproved vacant corner outparcel opportunity, below market rents, 3.5 acres of excess land and the ability to spin-off two single tenant NNN outparcels.
 |
| Keith Nurre |
"Demand for Florida retail product, remains robust”. Noted Jim Michalak of Plaza Advisors. “The various economic drivers of Florida, including strong population growth, a thriving economy and relocating retirees, continue to drive investment demand and provide a “safe haven” for capital placement by both domestic and foreign investors”.
Plaza Advisors is a real estate brokerage firm that specializes in the disposition of retail properties throughout the Southeastern United States. Plaza Advisors’ clients include private equity investors, developers, and major institutions including fund advisors, servicing agents, life insurance companies, REITs, and money center banks.
Jim Michalak
Managing Partner
Plaza Advisors
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 1
Fax 831.2627
No comments:
Post a Comment