Colliers sells Fowler Avenue Retail Center in Tampa

Colliers has announced the sale of Fowler Shopping Plaza, a 27,319-square-foot retail center located at 1510–1526 East Fowler Avenue in Tampa. The property was 96% occupied at the time of sale, after undergoing significant renovations to restore the property after damage incurred during the 2024 Atlantic hurricane season. A real estate fund advised by Crow Holdings Capital purchased the property for an undisclosed price.

Mike Milano, CCIM, MAI, and Nicholas Coccodrilli of Colliers’ Milano & Coccodrilli Retail Investments Team represented the seller, CAKK Venture, in the transaction.

"This transaction highlights the resilience of well-located retail in Tampa and the strength of investor demand for value-add opportunities," said Milano, executive vice president at Colliers. “Despite the challenges posed by storm damage, we worked closely with ownership to restore and stabilize the asset, ultimately generating 17 competitive offers.”

Originally constructed in 1979, Fowler Shopping Plaza sits on a prominent infill site along East Fowler Avenue, one of Northeast Tampa’s most heavily trafficked commercial corridors. The property features strong frontage and daily traffic counts and is located near major regional demand drivers, including the University of South Florida, Busch Gardens and the ongoing redevelopment of University Mall into the multibillion-dollar RITHM mixed-use district.

The property sustained significant hurricane damage in October 2024, displacing two major tenants and reducing occupancy to approximately 60%. The Arizona-based owner retained Colliers to help source and coordinate a qualified general contractor to manage repairs and prepare the asset for sale.

In addition, Colliers partnered with ownership to implement a tenant-retention initiative and a proactive lease-up strategy. By September 2025, the center had been substantially restored, displaced tenants had returned and two additional vacancies were backfilled, bringing occupancy to approximately 96% and positioning the property for disposition.

“The limited supply of value-add opportunities currently on the market has created some of the most competitive and robust marketing processes seen in years,” said Coccodrilli, senior investment director for Colliers. “The in-place below-market rents, coupled with extremely low retail vacancy and strong commercial growth and development within the corridor, provide the buyer with ample runway for future value creation.”

Crow Holdings Capital is the investment management business of Crow Holdings, a privately owned real estate investment and development firm with more than 75 years of history and $34 billion in assets under management. The acquisition aligns with the CHC’s strategy of investing in well-located retail assets in high-growth markets with strong fundamentals.

Following the sale, the Crow Holdings Capital team selected Stephanie Addis and Jaclyn Langholz of Colliers to manage the property's ongoing leasing efforts.