|Tampa, FL – December 4, 2013 – CBRE arranged the sale of a Sweetbay Supermarket-anchored shopping center in Tampa. Forge Real Estate Partners III, LP, a private equity fund jointly managed by Forge Capital Partners and The Sembler Company, purchased the property at 2525 N. Dale Mabry Highway from an affiliate of Optimus One, LLC for $11,550,000. The center was 100% occupied at the time of the sale. CBRE represented the owner.
The property was offered free and clear from existing financing and this transaction was the third time that the property was sold by the CBRE team.
“Sweetbay Shopping Center was acquired by Forge Real Estate Partners III, LP. The property is a stable, high-quality asset that serves a low-to moderate-income neighborhood and has had a lengthy history of successful operation,” said CBRE Senior Vice President Casey Rosen, who along with Senior Vice President Dennis Carson, represented the owner.
Built in 2003, this 56,097-square-foot, Class A neighborhood retail center is anchored by a 46,147-square-foot Sweetbay Supermarket and has a long record of successful operation, with a diverse roster of national/regional tenants including Moe’s Southwest Grill, Scottrade, GameStop and Jimmy John’s. It is located at the intersection of North Dale Mabry Highway and West Beach Street, approximately one-half mile north of Interstate 275. The immediate trade area is a densely developed infill market featuring a combination of significant residential population, a variety of office, hotel and commercial properties, and Raymond James Stadium.
Rosen and Carson lead CBRE’s National Retail Investment Group team for Florida from Miami.
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