 |
| Horizon Park shopping center, Hillsborough Avenue, Tampa, FL |
TAMPA, FL -- Plaza Advisors is pleased to announce the sale of Horizon Park, a 215,713 square foot shopping center, located on the heavily trafficked Hillsborough Avenue, featuring a daily traffic count exceeding 71,000 vehicles.
The
asset was constructed in 1971, renovated in 1980 and 1988 and was 86% leased at
the time of sale.
 |
| Jim Michalak |
The center tenant roster includes several national credit operators including; Dollar General, Pizza Hut, Metro PCS, Amscot and Sally Beauty.
Two
improved outparcels, with Wells Fargo and Applebee’s, were including in the
sale.
The shopping
plaza was sold by CRP II – Horizon Park, LLC. The Buyer and sale price were
undisclosed.
Jim
Michalak and Keith Nurre of Plaza Advisors represented the seller
and were the only brokers involved in the transaction.
“Horizon Park
has truly prospered through the test of time” noted Michalak. Plaza Advisors
sold the center to CRP in 2011.
 |
| Keith Nurre |
“Grocery anchored centers have historically been the most desired by the capital markets. \
"However, we have witnessed a surge of interest in traditional power and community centers, similar to Horizon Park, due to the attractive risk-adjusted returns,” Michalak said.
Plaza Advisors
is a real estate brokerage firm that specializes in the disposition of retail
properties throughout the Southeastern United States. Plaza Advisors’ clients
include private equity investors, developers, and major institutions including
fund advisors, servicing agents, life insurance companies, REITs, and money
center banks.
CONTACT:
Jim Michalak
Managing Partner
Plaza Advisors
3412 Bay To Bay
Boulevard
Tampa, FL 33629
813.837.1300 Ext. 1
Fax 831.2627
No comments:
Post a Comment