Tampa shopping center sells for $36 million

Grand Plaza, a 106,000-square-foot shopping center in Tampa, has sold for $36 million.

The unanchored retail center is on North Dale Mabry Highway near Carrollwood along one of the busiest commercial districts in Hillsborough. It is on the east side of the highway between Fletcher Avenue and Erlich Road.

Jeff Dervech, of Dervech Real Estate in Tampa, says the center was 99% occupied at the time of sale. Dervech, who announced the sale, says in an email that the buyer is “an undisclosed private fund.”

County records had not been updated Monday morning.

The previous owner was CPI Limited, a Clearwater company that paid $12.4 million for the shopping center in 2001. 

Thano Mazas, a broker with Mazi Realty in Dunedin, represented the seller.

Grand Plaza was built in built in 1985 and its current 35 retail tenant roster includes Grillsmith, Glory Days Grill, Kobe Japanese Steakhouse, Crafty Crab, H&R Block, Bright Now Dental and South Beach Tanning Co.

Mazas Management, which was charged with leasing the property, says in a flyer that Grand Plaza has 1,500 feet of frontage along Dale Mabry and “differing from most other centers” has glass entrances in the front and rear of shops.

This story has been updated to show that Mazi Realty represented the seller.