tampa, fl

the property

Situated along Dale Mabry at the nexus of one of Tampa Bay’s most sought-after neighborhoods—boasting some of the strongest demographics in Florida—this shopping center held untapped potential. Clover in partnership with a national real estate private equity fund, acquired the asset from a long-time owner who had made minimal capital improvements and maintained below-market leases with local tenants, leaving significant room for repositioning.

the result

Through a targeted renovation program, Clover revitalized the center’s physical appeal and tenant mix. As leases naturally expired, new tenants were selectively introduced to enhance the boutique character of the center, creating a compelling blend of restaurants, wellness, and beauty concepts that aligned with the community’s tastes.

Following a 40-month hold, the repositioned asset was sold to a national real estate investment firm, achieving a very strong project equity multiple and internal rate of return (IRR). Clover retained leasing responsibilities post-sale, and the property has maintained occupancy levels above 96% for over a decade—testament to its lasting appeal and operational stability.