Clearwater strip center sells for $5 million
October 13, 2020 - Clearwater Town Center, a privately held company in Belleair, has bought a 14,880-square-foot strip shopping center at 511 S. Fort Harrison Ave. in Clearwater. The purchase price was $5 million, according to a deed filed Monday in Pinellas County. The sellers were Dauphine Clearwater LLC and Maov Clearwater LLC. Franklin Street, a commercial real estate firm, was key to the transaction. Franklin Street's investment sales team of Greg Matus, Anthony Suarez, Ryan Derriman and James Rea represented the seller in the deal and the firm’s capital markets team provided the buyer with financing. Clearwater Town Center took out a $3 million mortgage for the property with Valley National Bank, county records show. The buyer also retained Franklin Street to lease and manage the property. The Class A shopping center is fully occupied property and triple-net leased to a mix of eight national and local tenants, including JP Morgan Chase Bank, FedEx, and Jimmy John’s, as well as a local coffee shop, kickboxing gym and pizzeria. NOTE: This news story has been updated since original publication with additional information.