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USAA Real Estate Co. invests in Tampa Mimi's Cafe building

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  • | 6:45 a.m. August 31, 2012
  • Commercial Real Estate
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BUYER: U.S. Real Estate LP, San Antonio, Texas

SELLER: Carrollwood Investors LLC

PROPERTY: 11702 N. Dale Mabry Highway, Tampa

PRICE: $3.07 million

PREVIOUS PRICE: $2.5 million, February 2003

LAW FIRM ON DEED: Golden Steves Cohen & Gordon LLP, San Antonio, Texas

PLANS, DESCRIPTION: USAA Real Estate Co. purchased the 7,034-square-foot Mimi's Cafe restaurant building for $3.07 million.

The price equated to $437 per square foot

The property was purchased as an investment. Mimi's Cafe has a long-term triple net lease on the property obligating the French-inspired restaurant to maintain the building and pay the property insurance and taxes.

The building was constructed in 2003.

Mimi's Cafe is a wholly owned subsidiary of Bob Evans Farms Inc. As of May 29, the company owned and operated 145 casual restaurants located in 24 states.

USAA Real Estate Co. is the real estate investment arm of financial services company USAA. It has more than $12 billion in assets under management.


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