News Summary
JLL Capital Markets has facilitated the sale of the Belleair Bazaar, a retail strip center in Belleair Bluffs, Florida. Spanning 38,874 square feet, the center was 96% leased at the time of sale. Notable tenants such as Bonefish Grill and Cold Stone Creamery enhance its value. The successful transaction underscores the strong interest in commercial real estate within the region, bolstered by the center’s strategic location and high occupancy rates, making it an attractive investment opportunity.
Belleair Bluffs, Florida – JLL Capital Markets has successfully facilitated the sale of the Belleair Bazaar, a notable retail strip center located in a suburb of St. Petersburg. The sale demonstrates a healthy interest in commercial real estate within the region.
The Belleair Bazaar features a total of 38,874 square feet of space, which includes 29,603 square feet of retail area and an additional 9,271 square feet of second-story office space. The property spans 2.7 acres in a prime location and was reported to be 96 percent leased at the time of the sale, indicating a strong demand for space among tenants.
Noteworthy tenants occupying the retail strip include popular names such as Bonefish Grill, Cold Stone Creamery, State Farm, and Maggie Mae’s. These established businesses enhance the strip center’s value and attractiveness to potential buyers.
The seller of the Belleair Bazaar is Cardinal Point Management LLC, while Shannon Waltchack LLC has acquired the property. JLL’s Investment Sales and Advisory team played a pivotal role in this transaction, comprising experts Jorge Portela, Danny Finkle, and Kim Flores.
Details of the Transaction
The sale of Belleair Bazaar highlights the ongoing activity in the commercial real estate sector within Florida. The center’s high occupancy rate of 96 percent suggests a stable income stream, making it a favorable investment opportunity.
Location Advantages
Belleair Bluffs, positioned close to St. Petersburg, is a burgeoning suburb known for its accessible retail and services, making it ideal for both businesses and consumers. The strategic location of the Belleair Bazaar places it at the forefront of retail activity in the region, catering to a diverse customer base.
Market Context
Commercial properties like Belleair Bazaar are increasingly sought after as investors look for stable and profitable ventures in the retail sector. The demand for retail spaces in growing markets, particularly in Florida, continues to drive investment activity. The presence of well-known national brands as tenants further solidifies the attractiveness of such properties.
The successful sale of Belleair Bazaar reinforces JLL Capital Markets’ position in the commercial real estate market, demonstrating their expertise in facilitating complex transactions and showcasing appealing opportunities for buyers and sellers alike.
In summary, the transaction involving Belleair Bazaar illustrates a robust real estate landscape in Florida, highlighted by high occupancy rates and the presence of reputable tenants. As investors remain optimistic about commercial property sectors, developments like this one will continue to shape the market dynamics in the area.
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Additional Resources
- Shopping Center Business: JLL Arranges Sale of Belleair Bazaar
- Business Observer: Las Vegas Developer Behind Naples Project
- St. Pete Catalyst: Fast Sell for Bellair Beach Home
- Patch: Largo Seeks Commercial Leasing Representative
- Realtor.com: Real Estate Investor Ben Mallah’s Secrets
- Wikipedia: Commercial Real Estate
- Google Search: Florida Real Estate Market
Author: STAFF HERE PETERSBURG WRITER
ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
