Baltimore, MD-based Mosaic Realty Partners affiliate Mosaic Grand Central Owner LLC, has purchased 115,899 square feet of ground-floor retail and office space in Grand Central at Kennedy in Tampa, FL for $38.1 million.
The transaction also included a transfer of interest in parking garage management. At the time of the sale, the property was 100% occupied by 15 tenants.
Mike Milano, Nicholas Coccodrilli and Brandon Rapone with Colliers represented seller Mercury Advisors, the original developer of the project. Donald Jennewein and Nathan Lynch with Colliers arranged financing on behalf of the buyer.
According to Colliers, the purchase is the largest retail transaction in Tampa’s urban core in terms of sale price.
Grand Central at Kennedy is located in Tampa’s Channel District and features residential condominiums in addition to retail and office space.
Mosaic Realty Partners has acquired 2.7 million square feet of commercial property with an investment value of $320 million since 2012.
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