Culver Plaza

Tampa FL

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The Offering

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 Whole Foods, 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 Whole Foods 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 Whole Foods 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

Demographics

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

Advisory 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

Maria Tusk

Senior Vice President
Wasserman
(949) 555-2342

Christopher Doyle

Associate Broker
Wasserman
(949) 555-8646

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