REAL ESTATE MARKET REMAINS HOT, HOT, HOT IN POLK

Thanks to Josh at Emperical Polk for the heads up on this piece in the Tampa Bay Business Journal:

The strip shopping centre Shops at Lakeland Square, located at one of the entrances to the Lakeland Square regional mall on U.S. Highway 98, North, was acquired by the Los Angeles-based Milan Properties West LLC for $3.4 million, or $417 a square foot. That is believed to be a record price for retail property in the Tampa Bay area.

It's a great place, with lots of traffic and a good quality of tenants. Among those doing business in the centre are Verizon Wireless, SuperCuts, and Mattress Firm. I'm certain that other buyers and sellers throughout the region will be looking at this sale closely, and the real estate market continues to burn red-hot.