Canada's Colterra Capital buys Terrace Oaks Plaza

BUYER: Terrace Oaks Plaza Realty LP (principals: Robert Berger, Pierre Trudeau, Richard Glickman and Tony Passander), Montreal, Quebec, Canada
SELLER: Regis Inn LLC
PROPERTY: 11301 N. 56th St., Temple Terrace
PRICE: $5.4 million
PREVIOUS PRICE: $3.45 million, April 1999
LAW FIRM ON DEED: Bivins & Hemenway PA, Valrico

PLANS, DESCRIPTION: An affiliate of Montreal-based real estate investment firm Colterra Capital purchased the 40,659-square-foot Terrace Oaks Plaza shopping center for $5.4 million.

The price equated to $133 per square foot. That figure is lower than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.