Grocery Store in Tampa Sells for $18M

Matthews Real Estate Investment Services represented the seller in its disposition of a Sprouts Farmers Market. The buyer was a Southern California-based 1031 exchange investor.
Sprouts Farmers Market

Matthews Real Estate Investment Services has arranged the sale of Sprouts Farmers Market, a 36,320-square-foot retail asset in Tampa. The property traded for $18 million to a 1031 exchange buyer. Matthews Real Estate represented the seller and sourced the Southern California-based investor in the deal.

“Both the buyer and seller were very satisfied with the transaction and process as the seller was able to hit his pricing and timing requirement and the buyer added another high-quality asset to their portfolio,” said Aron Cline, vice president & senior director of Matthews Real Estate, in prepared remarks.

Located at 1523 S. Dale Mabry Highway, the retail space is in the heart of South Tampa, alongside the Dale Mabry Highway, approximately 5 miles from Tampa International Airport and around 3 miles from the Tampa Central Business District. Sprouts Farmers Market is surrounded by other retailers, such as Trader Joe’s, Whole Foods, Publix, Fresh Market, Target, TJ Maxx, Sam’s Club, Walmart, Total Wine and Beer, Home Goods and Stein Mart.

In May, a Matthews team secured the buyer and closed the $13.8 million sale of The Gallery Shopping Center, a 101,498-square-foot retail asset in Huntsville, Ala. 

Image courtesy of Matthews Real Estate