Shoppes of Carrollwood & Colonial Square

Location: Tampa, FL
Type: Retail
Price: $18,500,000

SMC has provided an $18,500,000 ten-year fixed rate mortgage for the refinance of Shoppes of Carrollwood and Colonial Square. The Property is comprised of four buildings totaling 153,817 SF of inline shop space and 8,280 SF of outbuildings. The Property is 88.3% leased to national, regional and local tenants such as Starbucks, Five Guys Burgers, Navy Federal Credit Union, Abby’s Health Foods, You Fit, and McAllister’s Deli, among others. The surrounding area is predominately comprised of single family homes with various commercial developments, country clubs and business parks. The immediate area surrounding the Property has very few developable commercial sites remaining and has high barriers to entry. The neighborhood boasts strong demographics with a population of 38,361 and 102,522 and an average household income of $98,505 and $78,762 within a 3- and 5-mile radius, respectively.