Matthews™ Brokers Sale of Keene Plaza Following $12M Redevelopment

TAMPA, FL—Matthews™, a commercial real estate investment services and technology firm, represented the seller in the disposition of Keene Plaza, located at 2150 East Bay Drive in Largo, Florida. Senior Vice Presidents Pierce Mayson and Kyle Stonis, and Associate Vice President Boris Shilkrot brokered the transaction.

The seller, Paradise Ventures, a repeat Matthews™ client, brought the property to market as part of a capital recycling strategy to fund future development projects. Following the center’s extensive $12 million redevelopment, including the addition of a new Sprouts Farmers Market, Matthews™ positioned the asset around its long-term grocery anchor, national tenant mix, included outparcels, and remaining value-add potential. Targeting established shopping center investors, Matthews™ directly sourced the buyer, MCB Real Estate, which was attracted to the asset’s combination of stable, long-term income and opportunities for additional value creation through lease-up.

Situated within the established Mid-Pinellas retail corridor, Keene Plaza benefits from strong visibility, convenient access, and proximity to surrounding residential neighborhoods, with approximately 93,500 vehicles passing through the nearby intersection daily. Anchored by Sprouts Farmers Market, the 81,272-square-foot shopping center features a mix of national tenants. The property also includes outparcels occupied by McDonald’s, Little Caesars, and Twistee Treat.

“We’re thrilled to get another Sprouts-anchored center sold in Southwest Florida,” Stonis said. “Keene Plaza is a truly rare combination of a long-term, tier one grocery anchor with included outparcels and valuable remaining upside – a great fit for our buyer’s portfolio and testament to the continued strong demand for retail we see in Southwest Florida.”

For more information, please contact Pierce Mayson, Kyle Stonis, and Boris Shilkrot or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.