$38M Grand Central at Kennedy Purchase Sets Tampa Retail Record
Baltimore, MD-based Mosaic Realty Partners affiliate Mosaic Grand Central Owner LLC, has purchased 115,899 square feet of ground-floor retail and office space in Grand Central at Kennedy in Tampa, FL for $38.1 million.
The transaction also included a transfer of interest in parking garage management. At the time of the sale, the property was 100% occupied by 15 tenants.
Mike Milano, Nicholas Coccodrilli and Brandon Rapone with Colliers represented seller Mercury Advisors, the original real estate developer of the project. Donald Jennewein and Nathan Lynch with Colliers arranged financing on behalf of the buyer.
According to Colliers, the purchase is the largest retail transaction in Tampa’s urban core in terms of sale price.
Grand Central at Kennedy is located in Tampa’s Channel District and features residential condominiums in addition to retail and office space.
Mosaic Realty Partners has acquired 2.7 million square feet of commercial property with an investment value of $320 million since 2012.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.