Bass Pro in Brandon reels in $28.6 million in sale-leaseback deal

Bass Pro in Brandon reels in $28.6 million in sale-leaseback deal

Saturday, November 18, 2017

Bass Pro Shops store in Brandon (Source: photonews27.com)

Greenwich, Connecticut-based Starwood Property Trust bought a store in Brandon from Bass Pro Shops Outdoor World for $28.6 million in a sale-leaseback deal.

A Bass Pro spokesman told the Tampa Bay Times in an email that the retailer of outdoor sporting goods is now a tenant of the store with a long-term lease.

The store’s sale price is equal to $220 per square foot. Springfield, Missouri-based Bass Pro opened the store at 10501 Palm River Road in Brandon in July 2015.

Hillsborough County property records show that the $28.6 million sale of the 130,000-square-foot store Brandon store closed Sept. 29.

On the same day, Starwood also bought two other Florida stores in the Bass Pro chain in Palm Bay and St. Lucie, according to the Tampa Bay Times.

Bass Pro opened its store near the Estuary shopping center in Brandon after the Hillsborough County Commission approved a controversial $6.25 million subsidy to improve road access to the shopping center and the surrounding area. [Tampa Bay Times] Mike Seemuth


Source: The Real Deal