TSCG Completes Three Sales Totaling $62 Million

by Nate Hunter

Tampa, Fla. — The three centers include University Collection, Uptown Station and 98 Palms.

University CollectionTampa, Fla. — The Shopping Center Group (TSCG) has arranged the sale of three grocery-anchored properties in Florida with an aggregate purchase price of $62 million. University Collection, a 107,198-square-foot neighborhood center in Tampa, sold for $18.4 million. Built in 1984, the property is 80 percent leased. Sweetbay Supermarket was not included in the sale. Anthony Blanco, Lenard Williams, Mallory Ham and Kris Kral of TSCG’s investment sales division represented the seller, University Collection CRP LLC, a joint venture partnership between RAM CRA Partners and Forge Capital Partners LLC. An institutional investment fund managed by Charlotte, N.C.-based Faison acquired the center.

TSCG also brokered the sale of two Winn Dixie-anchored properties. The 300,124-square-foot Uptown Station in Fort Walton Beach sold for $33 million. The 92 percent-leased center includes tenants Ross Dress for Less, West Marine, Pet Supermarket, Party City, Dollar General and Tuesday Morning. Additionally, 98 Palms, a 90,000-square-foot retail asset in Destin, sold for $11 million. The fully occupied property features tenants such as Little Caesars Pizza and Island Wings. TSCG represented the sellers, affiliates of Victory Real Estate Investments, in both transactions.

You may also like