Wednesday, August 22, 2018

HFF announces $4.5 million sale of single-tenant Walgreens in Tampa, FL

 Walgreens, 4738 West Gandy Boulevard, Tampa, FL

Eric Williams

MIAMI, FL –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $4.5 million sale of a 15,942-square-foot, single-tenant retail building occupied by Walgreens in Tampa, Florida.

The HFF team marketed the property on behalf of the seller, a private investor.  The property was purchased by a private Florida-based investor free and clear of existing financing. 

Walgreens has occupied the property since it was constructed in 1996 and has more than 38 years remaining on its net lease.  

Situated on 1.99 acres at 4738 West Gandy Boulevard, the freestanding building is at the hard corner of the heavily trafficked intersection of West Gandy Boulevard and West Shore Boulevard, which sees more than 54,500 vehicles a day, and is in the affluent South Tampa neighborhood. 


Maxx Carney
 More than 43,000 residents earning an average annual household income of $93,745 live within a three-mile radius of the Walgreens.  

Additionally, the $600-million Westshore Marina District development is currently under construction adjacent to the property and will consist of approximately 2,000 residential units, office/commercial space and a hotel.

The HFF investment advisory team that represented the seller included directors Eric Williams, Maxx Carney and Steve Schrenk and managing director Marc Mandel.

Steve Schrenk
“South Tampa has long been one of top-performing and most-coveted retail submarkets within the Tampa MSA, given its affluence and population density,” Williams said. 

 “Walgreens’ remaining lease term and location adjacent to the $600 million waterfront Westshore Marina District mixed-use development, which is currently under construction, position both the store and site well for long-term success.”

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. 

Marc Mandel
 HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. 

 HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). 

 For more information, please visit hfflp.com or follow HFF on Twitter @HFF.


CONTACTS:

ERIC WILLIAMS

FL Lic. #SL3179736
HFF Director
(305) 448-1333

ewilliams@hfflp.com


MAXX CARNEY
HFF Director
(305) 448-1333

KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420


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