Institutional Property Advisors Brokers Tampa Shopping Center Sale
November 18, 2025
TAMPA, Fla., Nov. 17, 2025 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Westchase Town Center, a 58,383-square-foot open-air shopping center in the Westchase neighborhood of Tampa, Florida.
“Westchase Town Center is the de facto downtown of Westchase, a fully built-out master-planned community with 33 neighborhoods, and over 24,000 residents,” said Evan Cannan, senior director investments with Marcus & Millichap. “The center benefits from an attractive tenant profile with long-term stability, and upside, with opportunity for rent growth as well as additional development on the extra acreage included in the sale.” Cannan, Reid Thedford, Eric Abbott of Marcus & Millichap, and IPA’s Zach Taylor, in association with Ryan Nee, Marcus & Millichap’s Florida broker of record, represented the seller, Alan Charron of Real Property Specialists, and procured the buyer, a Tampa-based private investor.
Charron, main principal of Real Property Specialists stated: “This deal represents the power of exclusively listing with the right brokerage team to ensure top dollar, and a smooth transaction. I cannot say enough good things about Evan Cannan and Reid Thedford, two of the hardest working and accessible investment brokers out there. We received six offers within days of executing the listing agreement and they were able to get us within a hair of our $25 million list price through a competitive bid process.”
The shopping center is located along W Linebaugh Avenue with proximity to Racetrack Road and Sheldon Road, which combined, see over 40,000 vehicles per day. Westchase Elementary School is across the street, the Westchase Golf Club is close by, and Downtown Tampa and Tampa International Airport are a short drive away. Within five miles, the population is over 198,000 and average annual household income is more than $107,700.
Built in 2006, the tenant mix at Westchase Town Center includes over 30 local and national operators, including Anytime Fitness, Talkin’ Tacos, World of Beer, The Pilates Krewe, and Woof Gang Bakery. At the time of the sale, the center was 97% leased.
“Westchase Town Center is the de facto downtown of Westchase, a fully built-out master-planned community with 33 neighborhoods, and over 24,000 residents,” said Evan Cannan, senior director investments with Marcus & Millichap. “The center benefits from an attractive tenant profile with long-term stability, and upside, with opportunity for rent growth as well as additional development on the extra acreage included in the sale.” Cannan, Reid Thedford, Eric Abbott of Marcus & Millichap, and IPA’s Zach Taylor, in association with Ryan Nee, Marcus & Millichap’s Florida broker of record, represented the seller, Alan Charron of Real Property Specialists, and procured the buyer, a Tampa-based private investor.
Charron, main principal of Real Property Specialists stated: “This deal represents the power of exclusively listing with the right brokerage team to ensure top dollar, and a smooth transaction. I cannot say enough good things about Evan Cannan and Reid Thedford, two of the hardest working and accessible investment brokers out there. We received six offers within days of executing the listing agreement and they were able to get us within a hair of our $25 million list price through a competitive bid process.”
The shopping center is located along W Linebaugh Avenue with proximity to Racetrack Road and Sheldon Road, which combined, see over 40,000 vehicles per day. Westchase Elementary School is across the street, the Westchase Golf Club is close by, and Downtown Tampa and Tampa International Airport are a short drive away. Within five miles, the population is over 198,000 and average annual household income is more than $107,700.
Built in 2006, the tenant mix at Westchase Town Center includes over 30 local and national operators, including Anytime Fitness, Talkin’ Tacos, World of Beer, The Pilates Krewe, and Woof Gang Bakery. At the time of the sale, the center was 97% leased.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.