Brazilian Investor Snaps up Nutrition S’Mart in Tampa
- Sep 28, 2015
The newly constructed Nutrition S’Mart located on Race Track Road in Tampa now has an international owner.
An unnamed Brazilian private investor acquired the property for $3,8 million in a transaction facilitated by Calkain Companies. According to the commercial real estate brokerage firm, the buyer was seeking to enhance his personal portfolio by converting his Brazilian Reals (BRL) into stable real estate investments in the United States. The sales price translated to a 5.79% cap rate.
The 10,000-square-foot property is located on Race Track Rd. in the Westchase submarket of Tampa and it is one of the seven Florida Nutrition S’Mart sites. Calkain’s team representing the seller was led by Executive Vice President and Managing Partner David Sobelman and Associate Director Teal Henderson.
“Newly built assets in Florida, with little to no landlord responsibilities are difficult to develop, let alone acquire. We had a great deal of competition for the asset. The sellers were pleased to maximize the value of the asset in which they just recently completed developing,” said Henderson in a prepared statement.
Photo credit: Calkain Companies