Monday, November 19, 2012

HFF closes $6.2 million sale of grocery-anchored retail center in Tampa, FL area



Keene Plaza, Largo, FL
 MIAMI, FL – HFF announced it has closed the sale of Keene Plaza, a 78,982-square-foot, grocery-anchored retail center in Largo, Florida.

                HFF marketed the property on behalf of the seller, Anchor Keene Plaza Ltd., an entity affiliated with Lakeland, Florida-based Century Retail, LLC (“Century”).  Paradise Ventures, Inc. purchased the asset for $6.2 million.

                Keene Plaza is located at 2100-2200 East Bay Drive at the intersection of Keene Road in Largo, just south of Clearwater in the Tampa metropolitan area.  The property was renovated in 1999 and is 88.4 percent leased to tenants including Save-A-Lot, Bealls Outlet and Dollar General.

Daniel Finkle
 The HFF team representing the seller was led by senior managing director Danny Finkle and director Luis Castillo.

Century develops, leases and manages a variety of retail projects from small strips to large neighborhood centers with national tenants such as Publix, Marshalls, Save-A-Lot, Starbucks and Bealls among many more.  Century was organized in 2004 for the purpose of developing and leasing retail projects in Florida, Georgia, Alabama and the Carolinas.

Luis Castillo
Paradise Ventures specializes in all areas of retail real estate, from in-house development to third-party management.  They are one of the leading developers of Publix-anchored centers and Walgreens stores nationwide.  Since the beginning of this year, Paradise Ventures has developed two grocery-anchored shopping centers and six Walgreens stores in Florida.

Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | www.hfflp.com

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