New ownership group to attract unique retail and service-oriented businesses to support the surrounding neighborhood

Tampa, FL – Global real estate advisor Avison Young has brokered the sale of Fountain Plaza, a 25,191-square-foot (sf) retail plaza located at 2800 N. MacDill Avenue in the heart of West Tampa, Florida on behalf of the seller, Brusa Inc., for $5 million. The buyer, Landmarc Realty, has tapped Avison Young to lead leasing efforts for the property.

Situated on 1.9 acres at the corner of North Mac Dill Avenue and West Columbus Drive, Fountain Plaza benefits from daily traffic counts of over 16,000 and 25,000 vehicles per day, respectively. Tampa’s thriving population of 3.04 million, coupled with a steady influx of new residents drawn by the business-friendly environment, marquee employers, and favorable cost of living relative to other metropolitan centers in the Southeast, has fueled one of the strongest retail markets in the country.

Avison Young Principals Michael T. Fay, who is also the Chairman of Avison Young’s U.S. Capital Markets Group Executive Committee; John K. Crotty; David Duckworth; Brian C. de la Fé; Senior Vice President Nick Robinson; and Associates Nick Mastro and Philip Shapiro arranged the disposition. Mastro and Robinson will also lead leasing efforts for the new owner.

“With little to no retail developments in the pipeline and few recent deliveries in the surrounding neighborhood, Fountain Plaza’s new owners are well positioned to capitalize on Tampa’s continued growth by bringing new life into an underutilized retail center in a highly trafficked corridor,” said Mastro. “This will enhance access to essential goods and services, create jobs and improve the local economic fabric.”

“Retail investment activity in Florida has surged post pandemic, particularly for assets located near established residential communities,” said Fay. “This disposition reflects continued investor appetite for infill retail in Florida markets, especially those with strong demographic tailwinds and potential for value creation.”