- Ram sells Florida & Waters Shopping Center to Saglo Development Corporation
- Florida & Waters Shopping Center is a 159,097 SF asset located in Tampa, Fla.
Tampa, Fla., July 22, 2015—Ram Realty Services, a leading developer and real estate investment manager throughout the Southeast, has announced the sale of Florida & Waters Shopping Center to Saglo Development Corporation.
The 159,097 SF center is located on the southwest corner of North Florida Avenue and Waters Avenue in Tampa, FL. Notable tenants include Save-A-Lot, Citi Trends, Magic Mall Flea Market, CAC Medical Center, Wendy’s and Dunkin’ Donuts. Florida & Waters was 87.9% occupied at the time of sale.
Ram acquired Florida & Waters in November 2004 from The Greco Family, LP as part of its Community Reinvestment Partners Fund. Ram completed significant capital improvements in 2009, including an updated façade, roofing, parking lot improvements, and additional signage.
Founded in 1978, Ram is an affiliated group of companies and partnerships that acquire, develop, manage and finance retail and residential properties in the Southeast. The group also selectively acquires debt secured by retail and residential properties. Ram is currently investing Ram Realty Partners III LP, a value-added fund targeting retail and multifamily properties in select high growth markets in the Southeast. Since 1996, the company has deployed $1.7 billion in real estate transactions. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale and Tampa, Florida and Charlotte, North Carolina. For more information, visit www.ramrealestate.com.