Please ensure Javascript is enabled for purposes of website accessibility

Real estate investor buys Town Plaza

  • By
  • | 8:35 p.m. November 11, 2011
  • | 2 Free Articles Remaining!
  • Tampa Bay-Lakeland
  • Share

BUYER: Atria Plaza LLC (principal: Neil Orkin), St. Petersburg


PROPERTY: 1846 and 1910 62nd Ave. N.E., St Petersburg

PRICE: $2.9 million

PREVIOUS PRICE: $6 million, April 2007

LAW FIRM ON DEED: Haynes and Boone LLP, Dallas

PLANS, DESCRIPTION: A company led by St. Petersburg-based real estate investor Neil Orkin purchased the 67,050-square-foot Town Plaza shopping center for $2.9 million.

The price equated to $43 per square foot.

The property included four buildings built in 1968 and 1972. Major tenants in the center include Dollar General, Pet Food Warehouse and American Karate Studio. At the time of closing, the property was just less than 80% leased.

Mark Shellabarger, senior vice president with CBRE, represented the seller.

“The new owners plan to completely renovate the center to attract more tenants and make it a vibrant shopping center,” Shellabarger says in a press release. Orkin owns two other similar shopping centers in Pinellas County.


Latest News


Special Offer: Only $1 Per Week For 1 Year!

Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.