INVESTMENT OPPORTUNITY-FLORIDA POWER CENTERTarget Anchlored Power Shopping Center

For Sale
INVESTMENT OPPORTUNITY-FLORIDA POWER CENTER

Property Address:

Property ID: 25

Pinellas Park, Florida, United States

Description:

The Shoppes at Park Place is a 500,000 square foot Target power center in Tampa Bay, Florida. Target is not part of this offering, leaving 357,918 square feet of multi-tenant improvements for sale. Anchors include American Signature Furniture, Office Depot, Marshalls, Michaels, Petco and Regal Cinemas. The center is approximately 98% leased and has existing, assumable debt at below market interest rates. This trophy property is in Florida’s most densely populated county, Pinellas, and is well positioned to serve the 5-mile population of 262,635 residents, daytime population of 171,116 people and traffic counts of 120,000± vehicles.

Features

Specifications

Square Feet-Total 498,518
Square Feet-Offered 357,915
Occupancy 98%
Year Built 2004-2006

Key Tenancy Details:

Tenant Lease Term Net Rental Income
p.a. Excl.GST
American Signature Furniture 16 year 50,000
Regal Cinemas 20 year 73,000
Marshall's 10 year 30,000
Michael's 10 year 21,348
Off Broadway 10 year 20,135
Office Depot 10 year 20,000

For further details contact:

  • Michael Milano
  • Colliers Arnold
  • +727 298 5303
  • +727 421 4377

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