Palms of Carrollwood sells for $31.12M

A Smyrna, Ga.-based company that was at one time the Atlanta area's largest gasoline station owner and fuel seller has purchased the Palms of Carrollwood shopping center north of Tampa for $31.12 million, records show.

Wallace Enterprises Inc., the new owner of the 168,887-square-foot retail center, has been working in recent years to diversify both geographically and by asset class, according to reports. The privately held firm today focuses on acquiring and developing retail centers.

The Palms at Carrollwood is anchored by The Fresh Market, Bed Bath & Beyond, Petco and Sam Ash Music. In all, the property is more than 91% leased.