The Real Deal Miami

Miami-based Saglo buys 4th Tampa retail center

The company paid $1.9 million in cash for Shoppes at Armenia, which is 65% occupied

June 18, 2016 12:00PM

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Shoppes at Armenia in Tampa

Shoppes at Armenia in Tampa

Miami-based Saglo Development bought its fourth Tampa-area shopping center in an all-cash transaction.

Saglo paid $1.9 million for the Shoppes at Armenia, a 15,143-square-foot shopping center with a 65 percent occupancy rate.

Tenants of the 10-year-old shopping center include H&R Block, Metro PCS, Subway and Tampa Nails.

CBRE brokered the sale of Shoppes at Armenia, located on the northwest corner of Armenia Avenue and west Hillsborough  Avenue in Tampa.

The property includes a two-story retail building that spans 11,909 square feet and a 3,504-square-foot out-parcel that Tampa Nails occupies.

Saglo owns Florida shopping centers with more than a million square feet of space, and the company actively is seeking more Florida properties to acquire.