1031 Exchange TIC Property: Northbay Commerce Center - Tampa, Florida

Grocery Anchored Shopping Center

Minimum TIC Investment $300,000

Located at 8975 Race Track Road, Tampa, FL 33635, Northbay Commerce Center is a 97,613 square foot grocery anchored shopping center anchored by a Lowe’s Home Improvement Center (NAP) and includes national retailers such as Starbucks, Pizza Hut, Verizon Wireless, Bank of America (NAP) and Supercuts.

Northbay Commerce Center is located in the Tampa-St. Petersburg-Clearwater Metropolitan Statistical Area (Tampa MSA) on Florida’s Gulf Coast. The Tampa MSA ranks among the twenty largest metropolitan areas in the nation, consisting of a population of more than 2.5 million. The City of Tampa is the largest incorporated area within the MSA and the seat of Hillsborough County.

• $28,894,250 acquisition price
• $12,330,401 equity investment
• 6.06% CAP rate
• 6.02% year one cash-on-cash yield (pro forma)
• 97,613 Total Leasable Square Feet
• 89.23% occupancy (as of 1/18/06)
• $296.01 per square foot
• Built in 2004 & 2005
• Anchored by Publix, Florida’s dominant grocery operator
• The shopping center is shadow anchored by Lowe’s Home Improvement Center (NAP)
• National retailers include Starbucks, Pizza Hut, Verizon Wireless, Bank of America (NAP) and Supercuts

Contact me for further details and/or property photos.