Shopping center near USF sells for $10.5M after liens are paid

A shopping center in Tampa’s Temple Terrace suburb has sold for $10.5. million.

The center is the Fountain Shoppes at 8942 Bertha Palmer Blvd., just south of Fowler Avenue and the University of South Florida’s main campus.

The new owner, according to Hillsborough County property records, is an LLC with a Temple Terrace address that matches that of the real estate firm NRS Nationwide.

The firm, which lists the Fountain Shoppes for lease on its website, says in an email that it is the registered agent. It did not respond to a follow up question asking for the name of the owner. SRS Real Estate, which announced the deal, did not disclose the buyer’s name.

Records show the previous owner, Safety Harbor-based Paragon Property Group, paid $3.57 million for the property in 2018. The center was built in 2022.

Hillsborough records show the property had received several liens in 2023 for code violations. The minutes from an Oct. 21 Temple Terrace City Council meeting show that city attorney Ernest Miller told council that the liens in the amount of $161,450 had been paid off.

According to SRS, which represented Paragon in the deal, the 18,110-square-foot Fountain Shoppes sits on 2.58 acres. It is made up of two multi-tenant buildings and two single-tenant buildings.

 It is fully occupied with a tenant lineup that includes Starbucks, Jersey Mike’s, Rocking Crab, The Joint Chiropractic, Hand & Stone, and Chase Bank.

Each tenant, SRS says in a statement, has a triple-net lease in place with initial terms of 10 or 15 years and with multiple extensions available.

SRS’ Patrick Nutt and William Wamble represented Paragon.