TAMPA-The Island Estates Plaza is the latest shopping center to trade hands in a flurry of Florida retail deals this quarter. Publix purchased the 50,046-square-foot grocery anchored neighborhood center in Clearwater Beach for $8.1 million.

HFF managing director Daniel Finkle, director Luis Castillo and real estate analyst Robert Saracco represented the seller, DAM Clearwater, LLC, an entity wholly owned by Southport, Conn.-based David A. Mack Properties. Publix Super Markets purchased the asset free and clear of debt.

“There is a strong appetite for core investments at all value ranges that results in aggressive pricing for these properties,” Castillo tells GlobeSt.com. “Island Estates was an excellent example of this and benefited as a result.”

Island Estates Plaza sits on 4.2 acres at 130 Island Way in the Island Estates neighborhood. The site is on the Clearwater Memorial Causeway between downtown Clearwater and the island of Clearwater Beach.  The property is 100% leased to tenants including Publix, Bank of America, Wells Fargo, and The UPS Store.

"Barrier island, grocery-anchored retail center investment opportunities are rarely available in Florida and the opportunity to acquire this fully leased shopping center made Island Estates Plaza a highly sought after investment," adds Castillo.  "Island Estates has a long history of success that will undoubtedly continue under its new ownership."

Retail investment sales activity has increased dramatically over the last 12 months, according to CBRE’s third quarter 2011 MarketView report for the Greater Tampa Bay Area. And there are numerous retailers actively seeking space within the Tampa Bay market, primarily necessity and discount retailers, along with banks.