Colony Crossings Sells for Nearly $16M

TAMPA, FL-Stella Del Mar LLC pays Harborview Investors LLC $15.6 million or $133.13 per sf for the 117,176-sf shopping center. The retail asset is 95.5% leased.

By Alex Finkelstein | March 01, 2006 at 09:11 AM

The 17-year-old, 27-tenant property was 95.5% occupied at closing. The average asking base rent for non-anchors is $14 per sf triple net. The transaction was a 1031 tax exchange.

A Publix supermarket anchors the recently renovated 13.8-acre property at Hillsborough Avenue and Elliott Drive. Shapes Family Fitness and CVS are the other major tenants. GVA Advantis brokers Brad C. Luger and Larry Randolph represented the buyer and seller.

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