Culver Plaza Tampa, FL

The Offering

Address

10015 N Dale Mabry Hwy
Tampa, FL 33601

Overview

Wasserman Investments is pleased to present a rare opportunity to acquire a 135,286-square-foot, Culver Plaza situated in the heart of Tampa, FL. The asset benefits from a strong established grocery anchor with a low rent-to-sales ratio, complemented by a well-balanced mix of daily-needs, apparel and restaurant tenants.

Current ownership has invested $1.6 million in a façade renovation to enhance the center’s image, which has resulted in the signing of new tenants as well as interest from existing tenants to renew and expand, including Publix, demonstrating the strength of the center and desirability of the location. Occupancy stands at approximately 75%, providing immediate opportunity for a new investor to lease up remaining vacancy to add value.

Investment Highlights

• Long-standing Publix anchor with strong sales history / recent lease renewal / proposed expansion

• True value-add investment opportunity with 25% vacancy / immediate upside / significant projected NOI growth

• Lack of grocery competition within trade area / dominant Publix grocer in the Southeast

• Complementary mix of daily-needs, apparel and restaurant tenants

• Flexible leasing strategy as 60% of shop space area does not have renewal option encumbrances

• Primary neighborhood center with abundant parking serving premier residential community

• Attractive trade and employment area

• Offered free and clear of existing debt

Location

Demographics

2018 Estimate

1 Mile 2 Miles 3 Miles
Population 37,915 139,254 264,794
Households 15,046 51,940 98,136
Avg. Household Income $79,225 $78,240 $77,936
Median Home Value $405,299 $406,748 $414,039

Team

Wasserman Investments

Wasserman Investments possesses in-depth industry experience. Our team members are committed to a collaborative, open culture, giving you a rare combination of valuable retail real estate insight and steadfast client service that ensures long-term success.

Jeff Casswell

Managing Partner
Wasserman
(949) 555-1234 jcasswell@wasserman.com

Maria Tusk

Senior Vice President
Wasserman
(949) 555-2345 mtusk@wasserman.com

Christopher Doyle

Associate Broker
Wasserman
(949) 555-8646 cdoyle@wasserman.com

FOR MORE INFORMATION, PLEASE GET IN TOUCH:

Phone
949.221.1800
Fax
949.221.1830
Address
Wasserman
18441 Bellavista Drive
Los Angeles, CA 92612