Phillips Edison-ARC Shopping Center buys Crystal Beach Plaza

BUYER: Crystal Station LLC (Phillips Edison - ARC Shopping Center Operation), Cincinnati
SELLER: Crystal Beach Plaza Investors LLC
PROPERTY: 2850, 2870 and 2900 Alternative 19, Palm Harbor
PRICE: $12.1 million
PREVIOUS PRICE: $4.25 million, May 2005

PLANS, DESCRIPTION: Phillips Edison-ARC Shopping Center REIT Inc. purchased the 59,015-square-foot Crystal Beach Plaza for $12.1 million.

The price equated to $205 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.