MIAMI – HFF announced today that it has closed the sale of Tampa Festival Centre, a 141,628-square-foot, grocery-anchored shopping center in northeast Tampa.
HFF marketed the property on behalf of the seller, Forge Capital Partners. Wheeler Real EstateTrust purchased the property for $11.85 million free and clear of existing debt.
Tampa Festival Centre is located at 2525 East Hillsborough Avenue just east of Interstate 275, approximately five miles north of downtown. Renovated in 2009 and expanded in 2012, the center is 95.6 percent leased and anchored by Winn-Dixie. Other tenants include Family Dollar, Rainbow, Citi Trends and Rent-a-Center.
The HFFsales team representing the seller was led by director Luis Castillo and senior managing director Danny Finkle.
HFF’s investment sales team secured more than $1.0 billion in sales of retail assets nationally during the first half of 2013. In Florida, HFF closed more than $353 million in retail transactions across all capitalplatforms over the same period.
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. Since 2000, Forge and its principals have successfully sponsored three real estate-oriented, closed-end private equity funds: Community Reinvestment Partners, LP, Community Reinvestment Partners II, LP and Forge Real Estate Partners III, LP. In conjunction with debt financing and equity co-investments, these funds seek to invest more than $600 million of capital, more than $350 million of which has already been invested.
Headquartered in Virginia Beach, VA, Wheeler Real Estate Investment Trust specializes in owning, acquiring, financing, developing, renovating,and managing income producing assets, such as community centers, neighborhood centers, strip centers and free-standing retail properties. Wheeler’s portfolio contains strategically selected properties, primarily leased by nationally and regionally recognized retailers of consumer goods and located in the Mid-Atlantic, Southeast and Southwest regions of the United States.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information, please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.