(OLDSMAR, FL –November 09, 2018) — After breathing new life into the 315,000 SF Woodlands Square, owner Ram Realty Advisors is pleased to announce the sale of the revitalized center to Dallas, Texas-based Rainier Companies. Cushman & Wakefield’s Miami-based retail investment sales team, led by Mark Gilbert, Adam Feinstein, and Mitchell Halpern, represented the seller in the transaction.
After demolishing functionally obsolete space near the back of the center to make way for new tenants and better traffic flow, Ram’s makeover of the prime location at the intersection of Tampa Road and Curlew Road included new building facades, new signage, roofing, painting, parking lots, parking lighting, landscaping, awnings, and created a two-way ingress/egress drive. Ram estimates it touched roughly 85% of the center, which is 96% occupied, making it an attractive acquisition for Rainier. “The Class A center is a perfect fit for our retail strategy and growing retail portfolio,” says Rainier’s President, Tim Nichols.
The tenant mix includes recognized brands including specialty organic and natural foods grocer, Earth Fare; an AMC Theatre, which recently received a $7 million makeover; PetSmart; Five Below; a free-standing Ulta cosmetics; Beall’s; Marshall’s; Dollar Tree; Anytime Fitness; Coast Dental; Fantastic Sam’s; Kids Park; Pinot’s Palette; Amazing Lash, and Salon Lofts.
Local tenants include Janice Brand DDS, T&T Nails, Perfections Hair Salon, My Greek Corner, Richard’s Foodporium, Eve’s Florist, and Ruth Fashions.
Dining options include Shaker & Peel, Craft Street Kitchen, Green Market Café, Ruby Tuesday, and long-time local favorite Eve’s Family Restaurant.
Located 20 minutes northwest of downtown Tampa, in Pinellas County (the most popular destination on Florida’s Gulf of Mexico), this prime location represents a winning decision for both firms.
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Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail and residential properties in select high-growth markets in the Southeast. The company capitalizes investments with Ram-sponsored discretionary private equity funds, and periodically institutional joint ventures. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; Durham, North Carolina; and Nashville, Tennessee.
ABOUT THE RAINIER COMPANIES
The Rainier Companies are headquartered in Dallas, Texas. Rainier currently holds investments in over $1 billion of commercial properties with its individual, corporate, and institutional partners. Rainier’s acquisition strategy focuses on well-located stabilized retail centers and government properties in the central and eastern United States and value-add properties in Texas. For further information, please see www.rainiercompanies.com.
Ram Realty Advisors contact:
Ram Realty Advisors
The Rainier Companies contact:
The Rainier Companies
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office: 561.935.9953 x.101