Tampa Shopping Center Trades for $10M

Holiday Centre. Image courtesy of Aztec Group Inc.

Miami-based CF Properties Corp. has sold Holiday Centre, a 67,147-square-foot Publix-anchored shopping center in Holiday, Fla., in a 1031 exchange. A private individual paid $9.7 million for the retail asset that was fully leased at the time of sale. GLT Group Brokerage represented the seller and procured the buyer in the off-market transaction.

The property last traded in 2007, when CF Properties purchased it for $8.5 million. In 2017, the ownership refinanced the shopping center with a $6.7 million loan from BankUnited through Aztec Group Inc.

Situated at 4637-4701 Sunray Drive, the retail asset is 1 mile north of the city center, near the road’s intersection with U.S. Highway 19. The 7.2-acre property is also 3 miles north of downtown Tarpon Springs, an important tourist destination.

Built in 1994, the shopping center has Planet Fitness and Verizon Wireless as major tenants. Holiday Centre serves a population of more than 140,000 residents living within a 5-mile radius, with an average household income of more than $60,000.