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  • Sep 21, 2017
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Saglo purchases a 75,100 SF shopping center in Sun City Center, its fifth in Greater Tampa area.

An affiliate of Saglo Development recently purchase the Marketplace at Cypress Creek, a 75,100 SF shopping center located at 787 Cortaro Drive, Sun City Center, FL 33573. The tenants at the property include DaVita Medical Group (formerly JSA), DaVita Dialysis, HearUSA, Enterprise Car Rental and American Clinical Solutions. Other service oriented tenants include a nail salon, pharmacy, golf cart sales, beauty salon, dentist and cardiologist. The tenant mix reflects the strong need for medical and service, due to the proximity of the property to South Bay Hospital and the many retirement communities in Sun City Center. Every other shopping center in the city is at least 99% occupied. The banks within the city has some of the highest deposits I’ve ever seen outside of a downtown business district. This is an absolute tremendous market, and that is the reason why Saglo decided to pursue the purchase of the property.

We have 1,400 SF – 11,000 SF available at the property and are seeking discount oriented retailers, service businesses, restaurants, banks, and medical offices to be part of our plaza. These are generally e-commerce resistant businesses that will flourish in Sun City Center, FL. http://www.loopnet.com/Listing/20423126/717-Cortaro-Drive-Sun-City-Center-FL/

We are in the process of re-naming the property South Bay Plaza as well as making some capital improvements to the center.

For Leasing contact: Carlos Guzman – carlos@saglo.com or 305-704-3112

The other shopping plazas that Saglo owns in Greater Tampa Include

Central Plaza Shopping Center – 3365 Central Avenue, St. Petersburg, FL 33713 – This is one our favorite properties due to the tremendous amount of re-development that has been taking place within the 3 mile trade area, including thousands of new residential units in Downtown St. Pete, Aldi, Starbucks and other strong operators opening, a rapidly emerging arts and entertainment district that includes the opening of new museums and art galleries, as well as some of the areas best restaurants and lounges. The City of St. Pete has had great success in bringing thousands of new jobs to the city as well. Our property is currently anchored by Goodwill, however, they will be relocating to a brand new facility on 34th Street therefore we will have their 29,440 SF space coming available next year. This is the largest contiguous retail space available on Central Avenue in an area with tremendous barriers to entry. We also have the 5,160 SF payless space available. We have been upzoned to 7 stories, so we are open to creative re-development options: hotel, supermarket with structured parking, residential, big box retail, medical, etc. http://www.saglo.com/listings/central-plaza/

Shoppes of Armenia – 2507 W. Hillsborough Ave, Tampa, FL 33614 – This property is in the middle of Tampa surrounded by 125,000 people within 3 miles as well as hospitals, airports, schools and stadiums. There are 88,000 vehicles that travel on the intersection of Armenia and Hillsborough Avenues each day. We have 1,800 SF – 3,600 SF and are looking for businesses that value high traffic and high density. We would love to bring in medical businesses, law offices, insurance companies, language or music schools, or beauty salons. http://www.saglo.com/listings/shoppes-of-armenia/

Sun Point – 3002 E. College Avenue, Ruskin, FL 33570 – This property is located immediately in front of the 1.1 million sq ft Amazon Fulfillment Center as well as I-75. The Amazon has made a huge impact on the businesses of the property… our pizza restaurant received an order for 800 pies from Amazon! There is no cafeteria or restaurant within the Amazon facility and we are the closest shopping center servicing these 4,000 employees. They also do not offer daycare service (hint hint). South Hillsborough is the fastest growing area of Greater Tampa, take advantage of this growth by opening at Sun Point! We have 3,600 – 30,000 SF available for lease. We would love to bring in a food market, fitness center, daycare, home improvement and furniture rental. http://www.saglo.com/listings/sun-point/

Florida & Waters Shopping Center – 8320 N. Florida Avenue, Tampa, FL 33604 – On the North end of Seminole Heights, this trade area is the hippest in Tampa. Trendy restaurants, bars, and stores have been opening along N. Florida Avenue over the last 3 years. We recently signed a Wellcare an Planet Fitness within an old Home Depot box and have 57,000 sq ft of additional space available. We are searching for a great brewery/restaurant to open within this property! Please spread the word. http://www.saglo.com/listings/florida-waters-shopping-center/

About Hue Chen

Hue Chen is the Vice President of Acquisitions for Saglo Development Corporation and is responsible for increasing Saglo’s portfolio of properties. After graduating from the University of Florida in 1999, with a major in Finance, Hue started his career in commercial real estate as a retail leasing associate. He quickly became a top producing leasing agent while working with some of the most prominent owner-developers in south Florida. Throughout his career, he has executed over 250 leases and increased the value of over 40 different shopping center, ground-up and mixed use developments in south Florida and Southwest Florida. Hue attributes his success to a thorough understanding of the major retail markets of Florida, strong relationships with brokers and retailers, and his ability to structure leases that best fit the goals of each investment. In 2012, Hue joined Saglo and brought with him strong proficiencies in finance, mathematics, and ARGUS as well as a real world understanding of retail shopping center leasing and value creation.

Author: Hue Chen

Hue Chen is the Vice President of Acquisitions for Saglo Development Corporation and is responsible for increasing Saglo’s portfolio of properties. After graduating from the University of Florida in 1999, with a major in Finance, Hue started his career in commercial real estate as a retail leasing associate. He quickly became a top producing leasing agent while working with some of the most prominent owner-developers in south Florida. Throughout his career, he has executed over 250 leases and increased the value of over 40 different shopping center, ground-up and mixed use developments in south Florida and Southwest Florida. Hue attributes his success to a thorough understanding of the major retail markets of Florida, strong relationships with brokers and retailers, and his ability to structure leases that best fit the goals of each investment. In 2012, Hue joined Saglo and brought with him strong proficiencies in finance, mathematics, and ARGUS as well as a real world understanding of retail shopping center leasing and value creation.