Transwestern to Sell 63,118 SF Property Anchored by High-Performing Goodwill
December 14, 2020
Bradenton, FLA. – Transwestern Real Estate Services (TRS) announces its Southeast Investment Services Group is brokering the sale of Cortez Center, a 63,118-square-foot shopping center at 3501 Cortez Road W. in Bradenton, Florida. Transwestern Senior Managing Director John Bell is exclusively marketing the investment on behalf of the seller.
“Cortez Center has strong tenant appeal, benefitting from its high-profile location at the center of West Florida’s business market, which is the area of choice for many prominent corporate headquarters, including Tropicana, Champs Sporting Goods, and Bealls department store,” said Bell. “With one of the state’s highest-ranked Goodwill stores as its anchor and strong medical co-tenancy, the shopping center offers an investor stable, reliable income from essential businesses.”
Goodwill occupies 55% of the center, with more than 11 years remaining on its lease term. The high-performing store is ranked third out of 136 stores in Florida, according to Placer.ai. The site’s traffic is enhanced by medical users DaVita Kidney and MCR Health and high volume outparcel users Culver’s and McDonald’s, which combined to serve 738,000 customers in 2019.
Located within Bradenton’s thriving economic center, Cortez Center enjoys exceptional access and a high-profile market presence at the confluence of three heavily traveled roadways that bring more than 78,300 vehicles past the property daily. The shopping center is ideally situated at the core of residential density, serving nearly 110,000 residents and more than 39,400 workers within a 3-mile radius.
Transwestern’s Southeast Investment Services Group combines capital markets and investment banking expertise with local market knowledge and proven transaction execution to provide strategic disposition services for multifamily, office, retail, medical, industrial and land assets. The team has established a successful track record for maximizing value and creating long-term relationships with clients that range from local entrepreneurs to the largest corporations in the country.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.