A storm-damaged retail center on East Fowler Avenue sold for nearly its list price after drawing 17 offers, once the property was restored and leased back to 96% occupancy.
Colliers announced Feb. 18 that it brokered the sale of Fowler Shopping Plaza, a 27,319-square-foot retail center at 1510–1526 E. Fowler Ave. in Tampa.
A real estate fund advised by Crow Holdings Capital purchased the property for an undisclosed price.
Mike Milano and Nicholas Coccodrilli of Colliers’ Milano & Coccodrilli Retail Investments Team represented the seller, CAKK Venture.
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“This transaction highlights the resilience of well-located retail in Tampa and the strength of investor demand for value-add opportunities,” Milano, executive vice president at Colliers, said in a statement. “Despite the challenges posed by storm damage, we worked closely with ownership to restore and stabilize the asset, ultimately generating 17 competitive offers.”
From 60% occupancy to sale-ready
Built in 1979, Fowler Shopping Plaza sits on an infill stretch of East Fowler Avenue, one of Northeast Tampa’s most heavily trafficked commercial corridors.
The center benefits from proximity to 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 roughly 60%.
The Arizona-based owner retained Colliers to coordinate repairs and reposition the asset for sale.
The brokerage said it worked with ownership on a tenant-retention strategy while pursuing new leases to fill vacancies created by the disruption.
By September 2025, the center had been substantially restored. Displaced tenants had returned and two additional vacancies were backfilled, bringing occupancy back to about 96% and positioning the property for disposition.
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“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,” Coccodrilli, senior investment director at Colliers, said in a statement.
He cited below-market in-place rents, tight retail vacancy and continued commercial growth along the corridor as drivers of buyer interest.
Crow Holdings Capital is the investment management arm of Crow Holdings, a privately owned real estate investment and development firm that reports $34 billion in assets under management.
Following the sale, Crow Holdings Capital selected Stephanie Addis and Jaclyn Langholz of Colliers to oversee the property’s ongoing leasing.
Why it matters
Retail vacancy in Tampa Bay remains tight, and infill centers near major anchors such as USF continue to attract capital.
Fowler Shopping Plaza moved from storm disruption to stabilized occupancy in less than a year, then sold into a competitive bidding process.
The transaction underscores how quickly capital returns to well-located retail once income stabilizes.
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