TAMPA, FL—Tampa Festival Centre, a 141,628-square-foot, grocery-anchored shopping center in northeast Tampa, has a new owner. Forge Capital Partners sold the retail asset to Wheeler Real Estate Investment Trust for $11.85 million.
HFF marketed the property on behalf of the seller. HFF director Luis Castillo and senior managing director Danny Finkle led the team.
“The high-volume anchor and strong national tenant line-up position Tampa Festival Centre as the dominant grocery-anchored property in the submarket and will ensure its long-term success for its new owner,” Castillo tells GlobeSt.com. The center is 95.6% leased.
Tampa Festival Centre is located at 2525 East Hillsborough Avenue just east of Interstate 275, approximately five miles north of downtown. The center was renovated in 2009 and expanded in 2012.
Winn-Dixie anchors the retail center. Other tenants include Family Dollar, Rainbow, Citi Trends and Rent-a-Center.
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