Tampa, FL

$6 Million Sale of Rosewood Center in Northeast Tampa Arranged by CBRE Capital Markets

03 Feb 2022

Rosewood Center, a 32,000-square-foot retail and office center in Tampa

CBRE has arranged the $6 million sale of Rosewood Center, a 32,000-square-foot retail and office center in Tampa, Fla., to REIT4, a privately held real estate investment company headquartered in Tampa.

Mark Shellabarger and Ari Ravi with CBRE Capital Markets in Tampa represented the seller, the KAIN Group, a private equities group with offices in Florida and Ontario, Canada.

Rosewood Center is located at 1717-1773 W. Fletcher Avenue in northeast Tampa. At the time of sale, the plaza was 77 percent leased to 13 tenants. It is predominantly occupied by medical and service-oriented tenants, including Blue Wave Orthodontics, Kids Smiles Pediatric Dentistry, and Good Hands Home Health Care.

“The seller invested in several key capital improvements over the past few years, including new roofs and roof-top HVAC units, which made the property more attractive to buyers. Ultimately, the buyer saw the potential to acquire a prominent center with established tenants and cash flow, and the upside of leasing the available vacant space,” said Ari Ravi.

Mark Shellabarger added, “The property’s location in the middle of established neighborhoods with above-average demographics and internet-resilient tenant mix were key factors in the buyer’s decision to purchase the property.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.