Florida

TAMPA, FLA. — TSCG has arranged the sale of The Greenhouse Shops, a Walmart-anchored shopping center in Tampa. Anthony Blanco and Mallory Silva of TSCG represented Abaco-Greenhouse, a private partnership in the $12 million sale to an affiliate of CF Properties, a private real estate investment firm from Miami. Built in 1985 and renovated in 2014, The Greenhouse Shops totals 36,670 square feet, not including Walmart, and was 96 percent leased at the time of sale. The Walmart Neighborhood Market totals 41,689 square feet. Located at 3611 W Hillsborough Ave., The Greenhouse Shops is situated on West Hillsborough Avenue and Himes Avenue. Also included in the sale was a Murphy’s USA Express gas station along Hillsborough Avenue. Other tenants in the center include Sanitas Medical Center, La Familia Pawn and Jewelry and El Oso Blanco Supermarket.

MARGATE, FLA. — Investor and president of Current Capital Management, Todd Nepola, has purchased the Crossroads Center in Margate for $10.7 million. SW Global Inc was the seller. Located at 5000 Coconut Creek Parkway, the Crossroads Center has 84,500 square feet of space with tenants including Dollar General and Hollywood Institute of Beauty. A new lease was just signed with Chen Medical for a 7,400-square-foot space in the center. The center was built in 1983. Harry Chas Chaskalson of NEG Property brokered the sales transaction. Southstate Bank provided a $9 million loan with $7.3 million used to fund the sales transaction and the remainder held back for renovations on the center. The planned renovations include painting and minor remodeling of the center, as well as landscape, signage and lighting improvements. Current Capital Management has now acquired over 400,000 square feet of commercial centers in south Florida since 2020 and has purchased five properties in just over 18 months.

LAKE MARY, FLA. — Avanti Way Capital has acquired Shoppes at Lake Mary, a 37,685-square-foot shopping center located at 101 N. Country Club Road in Lake Mary. Avanti Way Capital purchased the 4.6-acre development from Miami-based real estate investment firm, Galium Capital, for $8.4 million. New York-based Morgan Stanley provided a $5.4 million acquisition loan for the sale. Dan Gorczycki and Peter Stobierski of TrueRate Services arranged the loan. Located off Lakeview Avenue and State Road 15, Shoppes at Lake Mary was originally built in 1985 and is situated about 19 miles from downtown Orlando. The shopping center was 94 percent leased at the time of sale to tenants including Lake Mary Dry Cleaners, Debs Kitchen, Lighthouse Seafood, Morganic Meats and Foxcase LLC. The property has 175 parking spaces. Avanti Way Capital is a Miami-based real estate asset management firm with roughly $1 billion worth of properties in Florida.