Ohio REIT bags Publix-anchored shopping center in Seminole
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Mar 27, 2015

A real estate investment trust that targets grocery-anchored retail centers has acquired a Seminole shopping center for $6.3 million.

Phillips Edison Grocery REIT, based in Cincinnati, now owns Oakhurst Plaza, a 51,740-square-foot center Publix Supermarkets Inc. anchors, paying about $121 per square foot.

Colliers International Tampa Bay brokers Mike Milano and Ron Schultz represented seller One Bayshore LLC, a private investor, in the transaction.

Retail properties throughout Tampa Bay are in high demand, and Milano said in a statement that "interest continues to grow at a record-setting pace," especially for grocer-anchored centers. With little new retail construction for several years, Tampa Bay has become a landlord's market.

Tenants are looking to expand again, but they have few options. That type of demand means rents are going up - and investors see higher returns ahead.

"Publix continues to be the preferred grocer and one of the most sought-after investment tenants,” Milano said in a news release.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.