115,899 square feet of retail and office space in Tampa’s Channel District has sold for $38.1 million. Mosaic Grand Central Owner LLC purchased the Grand Central at Kennedy space in the largest retail transaction in Tampa’s city center.
In addition to the units on the ground-floor that were purchased, the building also features residential condominiums and parking garages. The transaction included a “transfer of interest” in the garage management and the usage of 862 parking spaces for tenants and customers of the retail and office space.
“This was a rare opportunity for a buyer to acquire a trophy retail asset that is part of a premier mixed-use development in the Tampa urban core,” said Mike Milano, Executive Managing Director, Retail Investment Services, Colliers in a press release. “Given the lack of available land in the Channel District, it’s unlikely that a project of this scale, with a similar level of functionality and synergy between residential, office and retail, can be replicated.”
The Channel District has seen incredible growth over the years and continues to introduce new dining and residential opportunities for locals and visitors.