Shopping Center Sale in St. Petersburg

 

St. Petersburg, FL —  Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, announces the sale of Crosswinds Shopping Center located at 2060 66th Street N, St. Petersburg, FL, a well-positioned asset within the heart of the Tyrone Square retail node. Senior Vice Presidents Pierce Mayson, Kyle Stonis, and Associate Vice President Boris Shilkrot represented the seller in the transaction.

 

Strategically located within the rapidly growing Tampa Bay area, the shopping center spans 141,577 square feet and was 100% occupied at the time of sale. Crosswinds features a 93.7% national tenant mix, with well-known anchor stores like Marshalls, Michaels, Bealls and Havertys.

 

The seller, Crosswinds St. Pete, LLC, was motivated to sell due to the deal horizon of their ownership cycle. The buyer, Wallace Enterprises, Inc., and Crim & Associates acquired the property as part of a partial 1031 exchange.

 

“The buyer for Crosswinds immediately recognized that it was an excellent opportunity to acquire an extremely well-located retail asset with a rare combination of proven success and stability, along with a significant and immediate mark-to-market opportunity,” Stonis said. “Both sides of the deal performed perfectly, and we are thrilled with the result for everyone involved.”

 

For more information or to contact a Matthews™ specialized agent, please visit
www.matthews.com.

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.