Kennedy Sterling Plaza

Jeff Dervech, CCIM of Dervech Real Estate, Inc. arranges the sale of Kennedy Sterling Plaza in Tampa, FL. The 10,007 square foot, unanchored retail strip center, built in 1967, sold for $4,070,000, approx. $406.72 per square foot, and was 100% occupied at the time of sale. The tenants at the plaza include Renzo’s Steakhouse & Seafood Restaurant, Liberty Health Sciences, The Legacy Home Health Care, The Salon Shop and Happy Feet.

“Kennedy Sterling Plaza offered investors an opportunity to acquire a prototypical unanchored retail strip center asset in a market with extremely high barriers to entry. The property’s characteristics included great visibility, good ingress/egress, lots of parking, and a strong lineup of tenants with synergist retail uses. The plaza is position parallel to the road with the parking field directly in front of the building which is what you want with this type of retail product. The unit sizes ranged from the largest at 3,000 sf to the smaller units varying in the 2,000 sf range which is very manageable and desirable from a future re-tenanting standpoint” stated Jeff Dervech, CCIM.

The plaza is located directly off Kennedy Blvd, a main east west artery road into Downtown in an affluent South Tampa submarket. This plaza benefits from high visibility off the main thoroughfare, great access and ample parking. The tenant mix includes a diverse range of internet resistant service-based retail uses that have a long track record of operating at the property. This submarket benefits from very strong demographics including 47,000 households and a median household income of over $68,000 within a 3-mile radius.

For further information, please contact Jeff Dervech at 813-579-6830 or JDervech@DervechRE.com