Jeff Dervech, CCIM of Dervech Real Estate, Inc. arranges the sale of Citrus Park Plaza in Tampa, FL. The 13,000 square foot unanchored retail strip center, built in 2006, sold for $5,650,000, approx. $434.62 per square foot, and was 100% occupied at the time of sale. The tenants at the plaza include Suncoast Credit Union, Tropical Smoothie Cafe, Men’s Warehouse and Casual Male XL.
“Citrus Park Plaza offered investors an opportunity to acquire a well-located, unanchored retail strip center asset, in a market with very strong demographics. Under market rents and the ability to reposition the tenant lineup at a near term date led to its appeal. The market for quality locations by investors continues to be high and we strive to maximize value for our clients” stated Jeff Dervech, CCIM.
The plaza is an outparcel to the Citrus Park Town Center and is located directly off Citrus Park Drive. This submarket benefits from very strong demographics including 32,000 households and a median household income of over $70,000 within a 3-mile radius. The market is surrounded by a plethora of national retail tenants, within close proximity to SLAM charter school, Extra Space Storage and the newly announced Elev8 family entertainment center which includes go-karts, a retro arcade, laser tag, mini golf, a kid zone, e-sports, bowling, and restaurant and bar currently under construction in the former Sears department store.
For further information, please contact Jeff Dervech at 813-513-9439 or JDervech@DervechRE.com
To learn more about Dervech Real Estate, please visit https://dervechrealestate.com/
About Dervech Real Estate:
Dervech Real Estate is an entrepreneurially focused, Tampa based commercial real estate firm, specializing in the arena of shopping center investment sales and retail advisory services in the Tampa MSA and throughout the State of Florida. Our firm is devoted to working with clients to build strong, long-term relationships that foster trust and credibility, and to be their selected and valued advisor. Dervech Real Estate prides itself on keeping an ear to the ground and a pulse on the market to provide knowledgeable insight that enable our clients to make the most informed decisions.