Pasco County Lowe's hardware store sells for $14 million

A recently completed Lowe’s Home Improvements store in Pasco County has sold to investors for $14.3 million.

The store is in Odessa at 2317 Gunn Highway at the intersection of State Road 54.

According to SRS Real Estate Partners, the buyer was a California trust that paid cash. The company did not provide a name and county records have not been updated.

The previous owner was Tampa developer Dunphy Development, which paid $6.62 million for the property in 2021 according to county property records.

The Lowe's is in the Trinity Lakes center Dunphy is building.

SRS, which represented the buyer and announced the deal, says the store is 137,554 square feet and sits on just under 12 acres. Lowe’s has a corporate backed 20-year ground lease on the property.

SRS says the Lowe’s is surrounded by a roster of strong national retailers including Publix, 7-Eleven and The Learning Experience. And, the company says, there is a new retail development coming to the area.

This all makes for “encouraging strong tenant synergy and crossover customer traffic,” SRS says in the statement.

Dallas-based SRS has closed $1.5 billion in deal volume this year made up of more than 250 sales in 45 states. It currently has 660 properties listed with a market value topping $3.2 billion.

Matthew Mousavi and Patrick Luther represented the buyer for SRS. Patrick Wagor of Atlantic Capital Partners represented Dunphy.