Tampa, FL – April 3, 2012 – (RealEstateRama) — CBRE arranged the sale of Walk at Highwoods Preserve II, a 28,452-square-foot retail center in Tampa, Florida, to B & L Investments, a Tampa-based private investment group. The seller, a joint venture whose majority partner is an affiliate of TIAA-CREF, was represented exclusively by Senior Vice President Mark Shellabarger of CBRE’s Private Capital Group in Tampa, Florida.
Walk at Highwoods Preserve II is located at the northeast corner of Bruce B. Downs Boulevard and Dona Michelle Boulevard, just east of Interstate 75, in New Tampa. The shopping center has excellent visibility along Bruce B. Downs Boulevard, the primary artery for the dense and affluent New Tampa community.
Completed in 2003, the center has high curb appeal in keeping with the newer developments in the area and offers a healthy mix of regional and national tenants. Larger tenants include FedEx Office, Boston Market, Moe’s Southwest Grill and Jenny Craig.
“We are seeing increased interest from private investors for well-located, unanchored retail centers in the Tampa Bay area,” said Shellabarger. “Walk at Highwoods is an attractive center with a strong location and offers the new owners the opportunity to increase revenue through lease-up of the available space.”
Mark Shellabarger focuses on providing investment sales services for retail properties in the Tampa Bay area and Florida’s west coast.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2011 revenue). The Company has approximately 34,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.
About TIAA-CREF
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $464 billion in combined assets under management (as of 12/31/11) and is the leading provider of retirement services in the academic, research, medical and cultural fields. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.
Contact:
Elizabeth Cross
Marketing Director, FL
305.428.6373
elizabeth.cross (at) cbre (dot) com
Lauren Crawford
Communications & Media Manager, FL
813.273.8482
lauren.crawford (at) cbre (dot) com
