The Floridant - South Tampa retail center trades for .1 million

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Colliers International facilitates transaction of 7,850-square-foot South Dale Shoppes

TAMPA, Fla. - Floridant -- A group of local investors has purchased South Dale Shoppes, a 7,850-square-foot retail strip center located on the east side of S. Dale Mabry Highway, between West Sevilla Street and West Vasconia Street. The Ray and Barbara Sheldon Revocable Trust purchased the property for $3.1 million. It was 100% leased at the time of sale.

Ron Schultz, Managing Director, Retail Investments of Colliers International, represented the seller, D&J Investments, LLC. Tenants include All Dental, Maaco, Allure Nails & Spa, and CORA Healthcare.

"All leases in place are true net leases, making this a strong investment for the buyer," said Schultz. "That, coupled with the high visibility in the Tampa Bay area's wealthiest zip code, will provide a high-earning asset for years to come."

The property, located at 3404 S. Dale Mabry Highway, includes two buildings and more than 60 parking spaces. The seller completed a major renovation of the property in 2016, and tenant CORA Healthcare completed a renovation of its space in 2018. More than 33,000 cars drive by the retail center each day on S. Dale Mabry Highway.

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About Colliers International

Colliers International (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment.