TAMPA, FL—For all the talk of South American dollars flowing into Miami, the Tampa Bay area is vying for its share of these foreign investors. And a retail center in Spring Hill, a city in Hernando County that's part of the Tampa Bay Metropolitan Statistic Area, found favor with South American buyers.

The Shoppes of Spring Hill, a 10,880-square-foot class A retail center located at 1859 Commercial Way in Spring Hill, sold for $4 million. A private South American investor acquired the property from the original developer, Gulfstream Spring Hill. CBRE represented the seller.

“Private investors from South America have historically focused on South Florida, but in the last couple of years, we've seen more South American investors looking to acquire retail assets in the Tampa Bay market,” says CBRE's Mark Shellabarger. “The buyer of Shoppes of Spring Hill was attracted to the center because of its national tenants, high-quality improvements and key location in Spring Hill.”

Shoppes of Spring Hill sits on the "Main & Main" of the Spring Hill market. The center is 100% leased to four national tenants: AT&T, Mattress Firm, GameStop, and Sweet Frog Yogurt. The shopping center is shadow-anchored by a Walmart Supercenter.

The retail center has visibility from the roadways and sits on an outparcel in front of a Walmart Supercenter, near a JC Penney. It is also close to a power center anchored by Ross, Sports Authority, Best Buy, and PetSmart. Frank Bejar of FBP Realty in Sunny Isles Beach, FL, represented the buyer in the transaction.