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Publix-anchored retail property in Riverview sells for $21.7M

RIVERVIEW, Fla. (August, 16 2017) – Colliers International Tampa Bay has handled the sale of
Rivercrest Commons, a 74,300-square-foot shopping center in the Riverview submarket of Tampa.
The buyer is Nicklaus of Florida, Inc., a private real estate investment group based in St. Petersburg.
The newly constructed shopping center is anchored by a 47,000-square-foot Publix Super Market’
plus 16,100 square feet of adjoining shop space. In addition to the main shopping center, the sale
also included two outparcels improved with buildings at contain 5,200 square feet and 6,000 square
feet, respectively.

Rivercrest Commons is located at 11404-11478 South U.S. Highway 301. The property has high
visibility along a major thoroughfare that sees an average of 43,500 vehicles per day.
Colliers International represented the seller in the transaction: a joint venture with Dunphy
Properties, a Tampa-based retail development company, and Batson-Cook Development, an
Atlanta-based development and capital solutions company.

The Colliers brokers who handled the sale are Mike Milano, CCIM, MAI, Managing Director of Retail
Investment Services in Tampa Bay and Sean Glickman, CCIM, Managing Director of Retail
Investment Services in Central Florida, as well as Atlanta-based brokers Joe Montgomery, Senior
Vice President of Retail Investment Services, and Tony D’Ambrosio, Vice President of Retail
Investment Services.

In addition to Publix, the property includes a mix of necessity-based tenants such as Dunkin’ Donuts,
Marco’s Pizza, an urgent care office, dentist office, hair salon, tutoring center and dry cleaning

Rivercrest Commons is centrally located in one of the Tampa Bay area’s fastest growing residential
and commercial markets. Riverview’s residential population has increased by nearly 20 percent
since 2010.

“A grocery-anchored shopping center in a successful, fast-growing suburban area is an extremely
valuable asset in today’s market,” said Colliers’ Milano. “Rivercrest Commons has great potential for
return on investment and is a strong addition to the buyer’s growing portfolio.”
The buyer, Nicklaus of Florida, Inc. is the former owner of the well-known Sirata Beach Resort on St.
Pete Beach. After selling the resort earlier this year, the group has been building a diverse portfolio
of quality real estate properties in the area.

The buyer was represented by Cason Chatum, M.A, sales agent with REALNET, a Tampa-based
real estate brokerage company.

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For further information, please contact:
Tyler Killette, Account Executive
B2 Communications
Office: (727) 895-5030 ext. 107
Cell: (813) 270-7854