21688-21800 US Highway 19 N. | Clearwater, FL 33614

SERVICES

Disposition

PROPERTY/LOCATION

Clearwater Collection is located at the northwest corner of Drew Street and US Highway 19 N. and benefits from its high traffic counts along both primary arterials within the submarket. Built in 1995, the property sits directly on US Highway 19 N., a major thoroughfare with 91,013± cars per day. The well-maintained property consists of 5 retail units totaling 134,361 SF situated on a 14.25 acre site. Clearwater Collection’s tenants provide excellent synergy and ease of management.

STRATEGY/RESULTS

Since this was a secondary location, the Milano-Schultz team was proactive in reaching potential clients. In addition to traditional electronic marketing, the team made numerous phone calls and was persuasive in getting several prospects (who were going to pass) interested in the offering. Colliers generated sufficient interest to create a competitive bidding environment that produced multiple offers. These multiple bids resulted in the Colliers team getting maximum pricing for the Seller.

TEAM

Mike Milano, CCIM, MAI, Managing Director of Retail Investment Services
Ron Schultz, Director of Retail Investment Services

SALE PRICE: $17,801,000
DATE: August 13, 2015
SELLER: DDR Corp.
BUYER: GDA Real Estate Services, LLC
BUILDING SIZE: 134,361± SF
LAND SIZE: 14.25± Acres
OVERALL OCCUPANCY: 96.8%
PRICE PSF: $132.49
OUR ROLE: Seller’s exclusive listing agent