TAMPA, FL—A single-tenant retail building leased to TigerDirect.com has traded hands. The buyer, a partnership between private investment groups based out of Tampa and North Carolina, snapped up the 25,000-square-foot net leased retail asset for $4.75 million.
CBRE senior vice president Mark Shellabarger and executive vice president David Conn of CBRE represented the seller, a private investment group based out of Atlanta. The net leased retail building is located at 701 North Dale Mabry Highway in Tampa.
“The buyer was attracted to the asset because of the strength of the property’s location on North Dale Mabry Highway in Tampa, near the interchange with I-275,” says Shellabarger. “The buyer was also attracted by the stability of the tenant, TigerDirect.com, which, including its predecessor companies and brands, has been a tenant in the building since 1992.”
TigerDirect.com is a retailer of computers, cell phones, cameras, televisions, and related accessories through both the internet and physical store locations. The TigerDirect.com building was originally built in 1992 for Computer City. It serves a large, regional trade area including the Westshore and downtown Tampa office markets, as well as the South Tampa residential market, which includes some of Tampa’s most affluent neighborhoods.