Clover Acquires FL Retail Asset, Selects New Management

The retail center in Tampa’s south end, which encompasses more than 30,000 square feet, is fully leased to a wide range of tenants.
Palms Plaza in Tampa, Fla.

Clover Investment Properties has purchased Palms Plaza, a 33,000-square-foot strip mall in Tampa, Fla. The seller, a private investor which owned the property for 35 years, traded the asset for $1.8 million, according to Hillsborough County records. The new owner has chosen Commonwealth Commercial Partners to handle management of the property.

Located at 1155 S. Dale Mabry Highway, the Tampa retail asset sits at the corner of Florida Route 600 and Henderson Boulevard, within five miles of both the city’s downtown and international airport. The asset is fully leased to a wide mix of local and national tenants, including BayCare Urgent Care, H&R Block, Heavenly Nails and Performance Computer Group. Commonwealth Commercial and Clover intend to renovate the building.

“The South Dale Mabry corridor has seen a significant amount of new investment and project renovations during this cycle,” said Scott Holman, managing director of Commonwealth Commercial’s Tampa office, in a prepared statement. “This project has been a mainstay in the South Tampa market and we look forward to bringing our pro-active property management approach to this project.”

Image courtesy of Clover Investment Properties