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| LA Fitness in Northwest Plaza, 5717 Gunn Highway, Citrus Park area,Tampa, FL |
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| Brad Peterson |
ORLANDO, FL – – Holliday Fenoglio Fowler, L.P. (HFF) announces
the $7.7 million sale of Northwest Plaza, a 46,904-square-foot retail center
anchored by an LA Fitness in Tampa, Florida.
The HFF team marketed the property on behalf of the seller, a subsidiary
of Cole Corporate Income Trust IV, Inc. ACRE Investment Company, LLC
purchased the center.
In addition to LA Fitness, the 94.2-percent-leased Northwest Plaza is home
to DNC Supplements, LaLa Nails & Salon, JJ Smoothy and a Chase Bank
ATM.
A non-owned Walgreens, Burger King and Shell Station are
also at the property.
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| Whitaker Leonhardt |
Situated on 5.2 acres at 5717 Gunn Highway in Tampa’s Citrus
Park area, the center is proximate to Veterans Expressway, the most heavily
traveled north-south road through the county, and in Citrus Park’s dominant
retail corridor, which includes the 1.14 million-square-foot Westfield Citrus
Park Town Center and the Citrus Park Mall, a tremendous regional draw in
northwestern Tampa.
More than 99,000 residents with an average annual income of
$83,870 live within a three-mile radius of Northwest Plaza.
The HFF investment advisory team representing the seller included senior
managing director Brad Peterson, senior director Whitaker Leonhardt
and director Michael Brewster.
“Northwest Plaza is ideally situated at an intersection with more than
55,000 vehicles per day passing by the property and is directly across the
street from a recently redeveloped Publix-anchored shopping center,” Leonhardt
said.
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| Michael Brewster |
“This offering presented a unique opportunity to add another
fitness-anchored property to the buyer’s portfolio.”
“HFF continues to be very active in the Tampa Bay region and just recently
hit the market with a single-tenant Panera Bread ground lease in Lakewood
Ranch,” Peterson added.
“This is the second time
we have sold Northwest Plaza, and, in the last 18 months, we have closed on the
sale of The Groves in Lakeland, Merchants Square in Zephyrhills and Wawa in
Carrollwood.”
CONTACTS:
BRAD PETERSON
FL Lic. #BK3162030
HFF Senior Managing Director
(407) 745-3900
WHITAKER LEONHARDT
FL Lic. #SL3221137
HFF Senior Director
(407) 745-3900
OLIVIA HENNESSEY
HFF Public Relations
Specialist
(713) 852-3403
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