The University Collection, a 107,198-square-foot retail center along Fowler Avenue in Tampa, has sold for $18.4 million.
The sale, which closed on May 24, did not include the Sweetbay Supermarket that anchors the site.
Built in 1984, the shopping center is about 80 percent leased with retail and restaurant tenants that include Dollar Tree, Pet Supermarket, Chili's, Tijuana Flats, Five Guys Burgers and Fries, Firehouse Subs, Jason's Deli, Mattress One and FedEx Office.
The buyer was an institutional commercial real estate investment fund managed by Faison, based in Charlotte, N.C. It purchased the site from a joint venture partnership, which paid $23.1 million for the center in 2006, according to Hillsborough County property records.
The Shopping Center Group, a retail real estate advisory company, brokered the deal.
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This article has been revised to reflect the following correction: The center was purchased by an investment fund managed by Faison, a real estate investment company. A different buyer was listed.