Colliers retained to handle leasing and management of Champions Center
LARGO, Fla. (December 13, 2012) – Leveraging a high level of interest in the Champions Center shopping center created through Auction.com and the brokers’ personal relationships with investors, the 37,574-square-foot center in Largo sold for $2.65 million.
Mike Milano, CCIM, Managing Director of Retail Investments, and Ron Schultz, Director of Retail Investment Services for Colliers International Tampa Bay, represented the seller, JPMCC 2005-CIBC13 East Bay Drive, LLC. The buyer, Cantor Spellman Family Partnership, LLP, represented itself.
The center was 66 percent occupied at the time of sale with long-term tenant Outback Steakhouse being a major attraction for the property, and the fifth Outback restaurant ever built.
Ben McLeish, Director of Retail Services, and Marissa Conrad, Assistant Property Manager with Colliers International Tampa Bay will handle leasing and management of the center – an example of how the company’s wide range of services tie into the overall success of a property.
“Our team has an intimate knowledge of the property as well as the submarket,” said Milano. “This allowed us to demonstrate how the property can have significant long-term value through leasing up of the vacant space.”
Located at 3690 East Bay Drive, other current tenants of Champions Center include Kut Doctors, Color Pages, Miracle Ear, Vitamin Outlet, Select Staffing, Next Step Rehab, Allstate, and West Shore Pizza.
About Colliers International
Colliers International is the third-largest commercial real estate services company in the world, with over 12,300 professionals operating out of more than 520 offices in 62 countries. A subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV and FSV.PR.U), it focuses on accelerating success for its clients by seamlessly providing a full range of services to real estate users, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and research. Commercial Property Executive and Multi-Housing News magazines ranked Colliers International the top U.S. real estate company. The latest annual survey by the Lipsey Company ranked Colliers International as the second-most recognized commercial real estate firm in the world.