Aug
29
TREIS Closes Sale of Tampa Retail Assets
ByTiktin Real Estate Investment Services President Adam Tiktin represented the seller in the transaction, while U.S. Bank originated the acquisition financing to facilitate the deal.
Tiktin Real Estate Investment Services has arranged the joint sale of two retail properties encompassing nearly 4,000 square feet in Tampa, Fla. According to public records, Orion Venture VI LLC sold the assets to Shorewood Estates MHC LLC in a $2.9 million deal, while U.S. Bank provided $1.5 million in acquisition financing.
LONG-TERM TENANCY
Located at 1501-1505 E. Fowler Ave. on a 0.91-acre corner parcel, the freestanding buildings are occupied by Starbucks and T-Mobile on a long-term basis. Starbucks has entered into a new 10-year, double-net lease with four five-year options at the 1,920-square-foot property, while T-Mobile has signed a new 10-year, triple-net lease at the building that encompasses 1,958 square feet…
