Press Release

CBRE Announces the Sale of Bayview Plaza II Retail Center in St. Petersburg to Tennessee-Based Investor

2022 1월 19

CBRE has facilitated the sale of Bayview Plaza II, a 16,146-square-foot retail center in St. Petersburg, Fla., to Millan Enterprises, a Tennessee-based real estate firm, for $3.125 million.

Mark Shellabarger and Ari Ravi of CBRE in Tampa represented the seller, a boutique investment company based in Sarasota, Florida.

Located at 11270 4th Street North, Bayview Plaza II is 83 percent leased to eight tenants, including Brewers’ Tasting Room, H & R Block, MCI Metro, Critical Hit Games and Thai Wok restaurant. It is located adjacent to Bayview Office Building and Bayview Plaza, a 78,000-square-foot Winn Dixie grocery-store anchored shopping center.

“Bayview Plaza is located in the Gateway area of St. Petersburg, so it attracts customers from the large concentration of apartments, the daytime work force from nearby office buildings, and the cross-traffic with the adjacent, Winn Dixie-anchored shopping center,” said Ari Ravi.

“The property attracted an out-of-state investor who was interested in acquiring a cash-flowing retail asset with long-term tenants and upside potential in leasing the vacant space,” said Mark Shellabarger

Bayview Plaza II is located halfway between Gandy Boulevard and Interstate 275, providing convenient access to Tampa.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.