TAMPA, FL—Bloomingdale Hills, a 78,442-square-foot neighborhood retail center anchored by a new Wal-Mart Neighborhood Market in Riverview, Fla., has traded for $9.3 million. Riverview is about 12 miles southeast of Downtown Tampa.

HFF represented the seller, Mimms Enterprises. HFF senior managing director Brad Peterson and senior financial analyst Michael Weinberg led the charge. Thompson National Properties purchased the retail property free and clear of debt.

“Wal-Mart currently has 34 Neighborhood Market locations in Florida and they own more than half of their locations, so there are very few opportunities for investors to own a Wal-Mart Neighborhood Market anchored center,” Peterson tells GlobeSt.com. Renovated in 2012, the retail center is 100% leased.

“Every retail investor understands Wal-Mart’s strong credit profile and operating capabilities and from an investment standpoint saw a Wal-Mart Neighborhood Market as a nice complement and way to diversity their existing portfolios in Florida, which for many, primarily contained Publix anchored centers,” Peterson says. “There was an extremely strong response to this offering with nearly 20 offers received from a variety of investors including public and private REITS, pension fund advisors, foreign capital and leading private investors.”

Bloomingdale Hills was constructed in 2002 at the intersection of West Bloomingdale Avenue and Providence Road, where approximately 62,500 cars pass each day. The property offers about 78,500 square feet of rentable space, as well as a fully improved, undeveloped land parcel.

"The anchor tenant, Wal-Mart, is signed to a 15-year lease and holds a Standard & Poor's 'AA' credit rating as one of the world's largest retailers," Steve Corea, senior vice president of acquisitions for Thompson National Properties, said in a statement. Other tenants include Tampa Children’s Hospital Outpatient Facility, Happy’s Home Centers, and Liberty Tax Service.

“Wal-Mart is in growth mode with the Neighborhood Market store template,” Peterson says. “ They have opened a handful of new Wal-Mart Neighborhood Market stores in Florida over the past few months, and opened their first store in Georgia last week.”