Alderman Plaza, a busy Palm Harbor shopping center along U.S. 19, has a new owner. South Florida investor JBL Asset Management has bought the roughly 93,000-square-foot strip center for just over $30 million and is already talking about ramping up leasing and rolling out modest upgrades.
According to the Tampa Bay Business Journal, the deal closed this month and still leaves a handful of storefronts on the market. The outlet reports the plaza has more than 20 tenants in place, with several smaller suites still available for lease.
CoStar puts the purchase price at about $31 million and notes that longtime owner Sutton Properties decided to sell after decades of holding the asset. CoStar lists the property under multiple U.S. 19 addresses, all tied to the same shopping complex…