Grove at Wesley Chapel developer pays $22 million for Tampa shopping center
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jul 27, 2021

A developer pouring millions into the redevelopment of the Grove at Wesley Chapel has picked up an aging Tampa shopping center for $22 million.

Mishorim Gold Properties has acquired Horizon Park, a 215,713-square-foot trail plaza on West Hillsborough Avenue. Anchors include dd’s Discounts, Conn’s Home Plus, Northern Tool and Guitar Center.

Within days of the closing, Ross Dress for Less signed a lease for 30,000 square feet in the shopping center. The center was 86 percent leased at the time of closing; the Ross lease brings the lease rate to 98 percent.

“We love Tampa, the energy of the people, and the spirit of the community,” Mark Gold, developer and landlord, said in a statement. “We look forward to putting Horizon Park on the map and being a leader in commercial retail properties in the region.”

Jim Michalak and Keith Nurre of Plaza Advisors represented the seller, a corporate entity linked to Tampa's Forge Capital Partners. The seller paid $18.9 million for the property in 2011; Plaza Advisors sold the property then, too.

“Horizon Park has truly prospered through the test of time," Michalak said in a statement. “Grocery anchored centers have historically been the most desired by the capital markets. However, we have witnessed a surge of interest in traditional power and community centers, similar to Horizon Park, due to the attractive risk-adjusted returns.”