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| Commons at Twin Lakes, Clearwater, FL |
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| Jim Michalak |
TAMPA, FL -- Plaza Advisors is pleased to announce the $8.4
million sale of the Commons at Twin Lakes shopping center located in
Clearwater (Tampa Bay MSA) Florida.
The center contains a total of 53,100 square feet of gross
leasable area. The property is situated on 6.09 acres and was built in 1986.
The asset was 100% leased at the time of sale.
The seller and buyer
were Commons at Twin Lakes Associates, LLC and Realty Financial Corporation,
respectively. Both parties are a private equity firms. Jim Michalak of Plaza Advisors and Mike
Milano of Colliers International represented the buyer and seller in the
transaction, respectively.
“The center has a
long history of high occupancy, attractive market rents and a stable tenant
roster that was appealing to the capital markets” said Michalak. “The buyer was
able to secure excellent long term financing and locked-in an interest rate
prior to the recent increase”.
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| Mike Milano |
Plaza Advisors is a real estate brokerage firm that
specializes in the disposition of retail properties throughout the State of
Florida. Plaza Advisors’ clients include private equity investors, developers,
and major institutions including fund advisors, servicing agents, life
insurance companies, REITs, and money center banks.
Plaza Advisors has
closed over 130 shopping center transactions, with a combined GLA exceeding 13
million square feet with an aggregate sales volume in excess of $1.5 billion.
For a complete
copy of the company’s news release, please contact:
Jim Michalak
Managing Partner
Plaza Advisors
Fax 831.2627
3412 Bay To Bay Boulevard
Tampa, FL 33629
813.837.1300 Ext. 101
This is great news. Businessmen should take advantage of this opportunity because it seems like a very profitable investment. I would've bought it if I had 8.4 million dollars.
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