Collier Commons Changes Hands; Towers of Channelside Celebrates Full Occupancy
- Jun 20, 2011
In what is notably the largest recent transaction to hold the headlines in Tampa, the Collier Commons Shopping Center sold to Lakeland-based Publix Supermarkets for the amount of $28 million. The sale was annoucned by the capital markets group of Cushman & Wakefield of Florida Inc., with senior directors Karl Johnson and Patrick Berman representing the seller.
The 187,132-square-foot shopping center is located at the intersection of State Road 54 and Collier Parkway in Land O’Lakes and is expected to become one of the premier Class A Publix-anchored shopping centers in the Tampa area, according to Johnson. Collier Commons is currently 100 percent leased, with Publix occupying 60,677 square feet, Belk another 66,355 square feet and the rest housing tenants such as Walgreens, Chili’s and Verizon.
The Towers of Channelside condo project has some good news of its own, as last week’s Tampa Tribune reported that the iconic twin, 28-story Towers have finally sold out. In 2007, when the Channel District condos were built, buyers were putting down deposits to reserve one of the 257 units, at the time rumored to be among the most luxurious in downtown Tampa; seen as a good investment, it was mostly attracting buyers who had the intention of selling the units for a higher price, yet most of them backed down with the change of the housing market.
Most units have two or three bedrooms, and the remaining 137 units sold for an average price of $300,000, with the least expensive, a one-bedroom condo, selling for $158,000, and the most expensive, a penthouse, going for $899,000.