Key Takeaways
- • Curbline Properties, a publicly traded retail REIT, acquired The Shoppes at Crescent Park in Riverview for $14 million from KW Realty Fund VI LLC, expanding its portfolio of unanchored neighborhood shopping centers in high-traffic markets.
- • The 24,056-square-foot center, built in 2020 across two buildings on 4.18 acres, operates at approximately 95% occupancy with tenants including AT&T, GEICO, Eggs Up Grill, Heartland Dental, Foxtail Coffee, and Bubbakoo's Burritos, with one 2,627-square-foot space available for lease.
- • The property benefits from strategic location metrics: positioned at the U.S. 301 and Crescent Park Drive intersection with 64,000 daily vehicle passes, proximity to Interstate 75, Brandon Town Center, and major employers including Progressive.
- • CBRE's Jim Shiebler and James Garner brokered the transaction, which included the adjoining wetlands tract alongside the retail buildings.
- • Curbline Properties became an independent public company in 2024 and specializes in acquiring neighborhood shopping centers leased to diversified tenant mixes of national, regional, and local retailers and service businesses.
Summary
Curbline Properties, a publicly traded real estate investment trust focused on neighborhood retail, completed the $14 million acquisition of The Shoppes at Crescent Park in Riverview, Florida. The seller, Clearwater-based KW Realty Fund VI LLC (managed by KW Partners), divested the property to an affiliate of the REIT. CBRE's Jim Shiebler and James Garner represented both parties in the transaction.
The property comprises 24,056 square feet of retail and restaurant space distributed across two buildings situated on 4.18 acres at the intersection of U.S. 301 and Crescent Park Drive. Constructed in 2020, the center operates at approximately 95% occupancy. The tenant roster reflects a diversified mix spanning national franchises, regional operators, and local service providers: AT&T, GEICO, Eggs Up Grill, Heartland Dental, Foxtail Coffee, and Bubbakoo's Burritos. One 2,627-square-foot space remains available for lease. The sale included an adjoining wetlands tract.
The acquisition aligns with Curbline Properties' market positioning and operational strategy. The REIT, which became an independent public company in 2024, specializes in owning and acquiring unanchored neighborhood shopping centers leased to diversified tenant bases. The Riverview location offers compelling market fundamentals: the property sits along U.S. 301, a corridor that accommodates approximately 64,000 daily vehicle passes. Its proximity to Interstate 75, Brandon Town Center, and significant employment anchors such as Progressive enhances its competitive positioning within the Tampa Bay regional market.
This transaction represents continued institutional capital deployment into Florida's retail real estate sector and demonstrates sustained REIT activity in high-traffic neighborhood retail markets with strong anchor tenancy and demographic support.
The property comprises 24,056 square feet of retail and restaurant space distributed across two buildings situated on 4.18 acres at the intersection of U.S. 301 and Crescent Park Drive. Constructed in 2020, the center operates at approximately 95% occupancy. The tenant roster reflects a diversified mix spanning national franchises, regional operators, and local service providers: AT&T, GEICO, Eggs Up Grill, Heartland Dental, Foxtail Coffee, and Bubbakoo's Burritos. One 2,627-square-foot space remains available for lease. The sale included an adjoining wetlands tract.
The acquisition aligns with Curbline Properties' market positioning and operational strategy. The REIT, which became an independent public company in 2024, specializes in owning and acquiring unanchored neighborhood shopping centers leased to diversified tenant bases. The Riverview location offers compelling market fundamentals: the property sits along U.S. 301, a corridor that accommodates approximately 64,000 daily vehicle passes. Its proximity to Interstate 75, Brandon Town Center, and significant employment anchors such as Progressive enhances its competitive positioning within the Tampa Bay regional market.
This transaction represents continued institutional capital deployment into Florida's retail real estate sector and demonstrates sustained REIT activity in high-traffic neighborhood retail markets with strong anchor tenancy and demographic support.
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