Thursday, August 8, 2013

Plaza Advisors Announces Sale of Commons at Twin Lakes in Clearwater, FL


Commons at Twin Lakes, Clearwater, FL

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”.

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

2 comments:

  1. 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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