Tampa, FL – April 1, 2014 – CBRE closed the sale of a 25,000-square-foot, single-tenant retail building leased to TigerDirect.com Inc. and located at 701 North Dale Mabry Highway in Tampa, Florida. The sale price was $4,750,000. TigerDirect.com Inc. is a retailer of computers, cell phones, cameras, televisions, and related accessories through both the internet and physical store locations. Senior Vice President Mark Shellabarger and Executive Vice President David Conn of CBRE represented the seller, a private investment group based out of Atlanta. The buyer is a partnership between private investment groups based out of Tampa and North Carolina.
“The buyer was attracted to the asset because of the strength of the property’s location on North Dale Mabry Highway in Tampa, near the interchange with I-275,” stated Mr. Shellabarger. “The buyer was also attracted by the stability of the tenant, TigerDirect.com, which, including its predecessor companies and brands, has been a tenant in the building since 1992.”
The TigerDirect.com building was originally built in 1992 for Computer City. It serves a large, regional trade area including the Westshore and downtown Tampa office markets, as well as the South Tampa residential market, which includes some of Tampa’s most affluent neighborhoods.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through approximately 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.