Graphite Real Estate Acquires Publix-Anchored Shopping Center In Holiday, Tampa For $9.9M
4637 Sunray Drive
$9,900,000
$147/SF
Building Size
67,035 SF
Asset Type
Retail
Closing
Feb 6, 2024
About this deal
AI
Maryland-based Graphite Real Estate has purchased Holiday Centre, a Publix-anchored shopping center located at 4637-4701 Sunray Drive in Holiday, Tampa's northern suburb, for $9.9 million. The property spans 67,035 square feet and is 98% leased. Key tenants include Planet Fitness and Publix Liquors. The sale price translates to a price per square foot of $148. Ari Ravi of Ripco Real Estate represented the seller in the transaction, while RGA Reinsurance Co. provided acquisition financing for Graphite Real Estate.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $9,900,000
- Address: 4637-4701 Sunray Drive
- Market: Holiday
- Square Footage: 67,035
- Price Per Square Foot: $148
- Buyer: Graphite Real Estate
- Broker: Ari Ravi - Ripco Real Estate
- Lender: RGA Reinsurance
Ari Ravi of Ripco Real Estate served as the broker representing the seller in the transaction. Graphite Real Estate secured financing for the acquisition from RGA Reinsurance Co. The purchase of Holiday Centre adds another asset to Graphite Real Estate's portfolio, providing them with a strong foothold in the Publix-anchored shopping center market in the Holiday area.
On the Map
$9,900,000
$147/SF
Retail
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Holiday Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93