CLEARWATER, Fla. (Nov. 30, 2015) – An affiliate of North American Development Group has purchased Courtyard at Countryside, a prominent retail center in Clearwater, for $25.5 million. The center is anchored by Kohl’s and Total Wine & More and is located at 2514-2532 State Road 580, across from the Westfield Countryside shopping mall. It was fully leased at the time of sale.
Michael Milano, CCIM, MAI, and Ron Schultz of Colliers International Tampa Bay represented the seller, Skylark Plaza, LLC, which developed the property in 2008.
“Class A retail properties like Courtyard at Countryside are very much in demand,” said Milano, Managing Director, Retail Investment Services for Colliers International Tampa Bay. “Recognizing this, the seller decided to take advantage of the favorable market conditions.”
Courtyard at Countryside is home to a number of other well-known tenants, including Panera Bread, EverBank, Salon Lofts, Sport Clips and Tijuana Flats. In addition to being located on a prominent corner, it is directly across from Westfield Countryside, a 1.3-million-square-foot mall anchored by Dillard’s, Macy’s, JCPenney, Sears and Whole Foods.
“Courtyard at Countryside is well-positioned within a highly successful concentration of regional retail properties,” said Schultz, Director, Retail Investment Services for Colliers International Tampa Bay. “The property’s large trade area and quality tenant mix make this a top-quality asset to add to the buyer’s existing portfolio of retail properties.”
North American Development Group (NADG) is one of North America’s leading shopping center acquisition and development companies. For almost 40 years NADG has been active in the development, acquisition, redevelopment and management of over 250 shopping centers totalling more than 30 million square feet, with an enterprise value of over $3.5 billion.
About Colliers International Group Inc.
Colliers International Group Inc. is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm. For the latest news from Colliers International, visit Colliers.com, or follow us on Twitter: @ColliersIntl and LinkedIn.
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About North American Development Group
NADG owns over 20 million square feet of existing shopping center GLA in the U.S and Canada, with an additional 6 million feet in development or pre-development. The company also owns approximately 1,600 acres of land in the U.S. and Canada that has been acquired for future retail development.
NADG has 10 offices across North American consisting of five in the United States and five in Canada, and a team of over 130 estate professionals. In the U.S., NADG’s head office is in West Palm Beach, Fla. with regional offices in Phoenix, Dallas, Nashville and Atlanta. In Canada, the Company’s head office is in Toronto, with regional offices in Edmonton, Montreal, Ottawa and Halifax.
NADG been extremely active over the last 5+ years, capitalizing on opportunities created by turbulent market conditions. Since the end of 2009, NADG has acquired 44 retail properties comprising over 6 million square feet of existing or to be developed space with an enterprise value of over $900 million. For further information on NADG, please visit www.nadg.com.
For further information, please contact:
Leah Saunders, Senior Account Executive
Office: (727) 895-5030
Cell: (813) 924-0367