Container Store-anchored retail center in Westshore is on the market
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Dec 7, 2021

A prime piece of retail property in Tampa’s Westshore business district is on the market.

The Corner at Westshore I and II — the properties at the intersection of Westshore Boulevard and West Spruce Street, anchored by The Container Store and home to Olive Garden, Longhorn Steakhouse, Gym Source, Pei Wei Asian Diner and more — are listed for sale at $45.8 million. The ownership, Saber Real Estate Advisors, is also willing to sell them separately: The Corner at Westshore I, which is 39,733 square feet, is listed at $25 million. The Corner at Westshore II, which is 27,286 square feet, is listed at $20.8 million.

The Franklin Street retail investment sales team, led by Adam J. Tiktin and Greg Matus, is marketing the property for sale.

The properties sit on a combined 6.67 acres. If they sell for the list price of $45.8 million, the sales price will break down to just under $700 per square foot, representing the upper end of Tampa Bay’s retail real estate market. The property was previously listed for sale in 2015, but a deal never came to fruition.

“Long term, this property will continue to benefit from the tremendous growth in Tampa, and specifically the Westshore submarket, where over 3,000 multifamily units are currently planned or proposed,” Matus said in a statement.

Both centers are fully leased and occupied.

“The Corner at Westshore I & II has a truly unbeatable location on the best corner in Tampa with incredible exposure, signage and surrounding demographics,” Tiktin said in a statement. “This is a rare opportunity for a savvy investor to benefit from a stable and cash-flowing shopping center with numerous corporate-guaranteed tenants in a tax-free state.”