Colorado Investor Adds Clearwater Mall to the Collection

By Balazs Szekely, Associate Editor

Clearwater Collection

Clearwater Collection, a community shopping center at 21688-21800 U.S. Highway 19 North in Clearwater, was purchased by GDA Real Estate Services of Greenwood Village, Colo. for $17.8 million.

The buyer has been in the commercial real estate business since 1993.  Since then the company has advised on and executed more than 225 shopping center purchases and sales in 13 US states. GDA is currently responsible for leasing 82 properties worth more than $1.9 billion.

The 134,360 square-foot, five-unit Clearwater Collection was sold on behalf of a large national account. The shopping center was almost fully occupied at the time of the sale. The newest addition to GDA’s portfolio is located near the heavily-trafficked intersection of U.S. Highway 19 and Drew Street. The property is anchored by LA Fitness and Floor Décor and includes a single-tenant Buffalo Wings outparcel.

Three separate Colliers International Retail Investment brokerage teams joined forces to negotiate the disposition on behalf of the seller, and also guided GDA in the closing process. Executive Vice President Tom Lagos and Associate Vice President El Warner from Los Angeles, Senior Vice President Mark McEwen from San Diego, and Florida’s Director Ron Schultz, and Managing Director Mike Milano collaborated in the deal.

Photo courtesy: Clearwater Collection (via Google +)