The Real Deal Miami

Miami-based Saglo acquires Tampa shops for $8.25M

Company owns a portfolio of Florida shopping centers spanning 950,000 sf

July 25, 2015 01:15PM

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Florida and Waters Shopping Center

Florida & Waters Shopping Center

Miami-based Saglo Development added to its property portfolio in the Tampa area by acquiring Florida & Waters Shopping Center north of downtown Tampa, just off I-275.

Built in 1969 and renovated in 2008, the Florida & Waters Shopping Center has 159,120 square feet and is 88 percent leased. It sold for $8.25 million, according to Saglo.

Current tenants include Citi Trends, CAC Medical Centers, Dunkin’ Donuts, Elegant Beauty Supplies, Save-A-Lot and Wendy’s.

About 124,000 people reside within three miles of the shopping center, and the daily traffic count at its corner location tops 55,000 vehicles.

The center is located near Adventure Island, Busch Gardens, Lowry Park Zoo and the University of South Florida.

Saglo owns a 950,000-square-foot portfolio of Florida shopping, including  365,000 square feet located in the Tampa area. The company is actively seeking to acquire additional Florida assets. Saglo’s Jack Glottmann, Hue Chen and Kristina Remington brokered the deal. —  Mike Seemuth