LARGO – The Shopping Center Group, a retail-only real estate advisory firm, recently completed the sale of Barclay Square, a 99,000-square-foot grocery-anchored shopping center located in Largo for $10.8 million.
The neighborhood center is anchored by a 42,000-square-foot Walmart Neighborhood Market, which offers fresh produce, meat and dairy products, bakery and deli items, household supplies, health and beauty aids and a pharmacy. The Shopping Center Group represented the seller, EDENS. The buyer is an affiliate of The Sterling Organization.
Built in 1988 and renovated in 2008, Barclay Square is an active neighborhood center located at the intersection of Walsingham and Indian Rocks roads. The property is 82 percent leased with a tenant line-up of strong retailers, service providers and restaurants including the only Walmart Neighborhood Market in the city of Largo, Tuesday Morning, Beef‘O’Brady’s, H&R Block and Goodyear Tires. Since Walmart Neighborhood Market first leased the former Kash N’ Karry space in 2009, consumer traffic to Barclay Square has steadily increased.
“This property is a solid investment with great value-add opportunity for the new owners,” stated Anthony Blanco, director of investment sales for The Shopping Center Group. “Walmart is one of the most credit-worthy tenants in the industry.”