Plaza Advisors is pleased to announce the sale of Southtown Center, located at the intersection of S. Dale Mabry and W. Neptune in the prestigious South Tampa trade area. The plaza is sandwiched between one of central Florida’s highest sales volume Publix stores and an extremely successful freestanding Sprouts Farmers Market grocery store. Southtown Center serves a highly educated, affluent trade area that includes nearly 102,000 residents with an average annual household income of $146,000 residing in housing units with median values exceeding $380,000.
The total GLA of Southtown Plaza is 43,669 square feet. The property was 100% occupied and features numerous nationally acclaimed tenants including: Moe’s Southwest Grill, Tropical Smoothie, Cold Stone Creamery, Weight Watchers, Massage Envy, Pure Barre, European Wax Center, Burger Monger, Davita and Century 21.
The seller was an Australian based Core Fund, advised by CenterSquare Investment Management. The buyer was a NYSE Real Estate Investment Trust. Jim Michalak and Keith Nurre of Plaza Advisors represented the seller and were the sole brokers involved in the transaction.