Belleair Bluffs, FL — Shannon Waltchack Neighborhood Centers III (SWNC III) is pleased to announce the acquisition of Belleair Bazaar, a 38,874-square-foot unanchored retail strip center located at 2979 W. Bay Drive in Belleair Bluffs, part of the Tampa Bay metro area.
“This marks our fourth acquisition in Tampa and seventh in Florida and we’re looking for more. This center underscores our commitment to high-quality retail assets in growth corridors,” said Derek Waltchack, Principal at Shannon Waltchack. “Belleair Bazaar’s strong tenant mix, prime location, and proven performance make it a compelling long-term investment.”
The center is currently 96% leased to a diverse mix of tenants, including Bonefish Grill, Cold Stone Creamery, State Farm, and Maggie Mae’s.
The property sits on 2.66 acres at a high-traffic gateway in Pinellas County, serving a densely populated trade area of more than 73,800 residents within a three-mile radius and benefiting from an average daily traffic count of 19,100 vehicles.
The seller, Cardinal Point Management, LLC, was represented by the JLL Capital Markets team of Jorge Portela, Danny Finkle, and Kim Flores.
SWNC III is an affiliate of Birmingham-based Shannon Waltchack, a commercial real estate firm focused on acquiring centers anchored by service-oriented tenants in dense, affluent communities. Its preferred tenant mix includes medical providers, restaurants, and salons—businesses resilient to online competition.
Belleair Bazaar is the seventh asset in the SWNC III portfolio, joining Tequesta Square (Jupiter, FL), The Vintage Center (Houston, TX), Southside Square (Kernersville, NC), Draper Town Square (Draper, UT), Shops at Leander (Leander, TX), and Shops at Covenant Health (Lubbock, TX). Shannon Waltchack currently manages 12 properties across Florida.
The SW Investment team is continually pursuing deals in growing communities throughout the country. Brokers with neighborhood center acquisition opportunities should contact Derek Waltchack at [email protected].
