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Tampa, FL | Shopping Center | Closed on RealINSIGHT Marketplace

  • Jul 12, 2018
  • Marketplace Closings

By utilizing RealINSIGHT Marketplace's online auction website, this grocery-anchored retail center exceeded seller expectations.

Northbay Commerce Center sold on the online auction website, RiMarketplace.SALE PRICE: $13,550,000

RealINSIGHT Marketplace is an adept online auction website for selling all asset classes including grocery-anchored retail. For the sale of this 97,000+ SF grocery-anchored retail center in Tampa, Florida, the seller engaged a regional, retail-focused investment sales brokerage team with intimate knowledge of both the asset and local market.  The offering benefitted from a long-term grocery anchor with above-average sales and recently renovated space and with ~20,000 SF (20% of GLA) of vacant in-line space presented an immediate lease-up opportunity for value-add investors.  The sale attracted an exceptionally wide and experienced buyer pool including institutional firms, well-capitalized private domestic and foreign funds, and private investors that competed fervently for the asset during the Classic Sale Event pushing value above even the Seller’s most aggressive projections.

 

To learn more, please visit the Northbay Commerce Center property page or contact us at info@rimarketplace.com.