IPA Arranges $30 Million Sale of Shopping Center Near Tampa, Florida

by Hayden Spiess

Wesley Chapel, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $30 million sale of Village Market at Wesley Chapel, a 98,547-square-foot shopping center located in Wesley Chapel, a suburb of Tampa. The property — which comprises five freestanding, net-leased buildings — was fully occupied at the time of sale. Kirk Olsen and Drew Kristol represented the seller, Wesley Chapel SC Co. Ltd., and procured the buyer, an affiliate of JBL Asset Management, in the transaction. A 30,537-square-foot Crunch Fitness anchors the center, which was fully leased at the time of sale. Other tenants at the property include Ace Hardware, AutoZone, Burger King, Popeyes and Waffle House.

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