TriGate Capital Acquires The Shops At Wiregrass In Wesley Chapel For $70.5M

Dallas-based real estate investment firm TriGate Capital has acquired The Shops at Wiregrass in Pasco County for $70.5 million. The open-air lifestyle center, known for its pedestrian-friendly design, spans 800,000 square feet and is located at 28211 Paseo Drive in Wesley Chapel. The sale price equates to a price per square foot of $88.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $70,500,000
• SF: 800,000
• PPSF: $88
• Address: 28211 Paseo Drive, Wesley Chapel
• Market: Wesley Chapel

TriGate Capital, represented by Jay Henry, completed the acquisition of The Shops at Wiregrass. The firm plans to invest in exterior improvements to attract desirable retailers to the open-air lifestyle center, bucking the trend of declining mall prices in the Pasco County region.