Clover Acquires Cortez Commons and Names Commonwealth Commercial Partners to Lead Property Management
Feb 3, 2020
Tampa, FL – January 28, 2020 – Clover Investment Properties is pleased to announce the acquisition of Cortez Commons, a 120,000 square foot retail center located in the Cortez Road corridor, one of Manatee County’s highest trafficked areas. The retail center is 89% leased and includes local and national retailers such as Big Lots, Tuesday Morning, Quest Diagnostics, DaVita, and Greenberg Dental.
Clover’s Managing Partner, Lyle Fogarty, remarked, “We look forward to bringing our local ownership to this extremely well positioned asset. We have an aggressive capital and renovation plan to modernize this plaza in order to enhance the environment for our tenants and their customers. It’s especially fulfilling to do so in Bradenton, which is experiencing rapid growth and rejuvenation, and where our ownership group has deep life-long roots.”
The new ownership group has hired Commonwealth Commercial Partners (CCP), a Richmond, Virginia-based comprehensive property solutions firm, as property manager and will look to CCP to manage the general maintenance and tenant relations of the 120,000 square foot retail center.
“We are thrilled to be expanding our relationship with Clover with Cortez Commons,” said Scott Holman, Managing Director at Commonwealth Commercial in Tampa. “We look forward to bringing our pro-active property management approach to this project and working closely with Clover to implement their investment strategy. Our goal is to assist with adding value to the investment while simultaneously improving the tenant and customer experience at the property.” CCP also manages Palms Plaza in Tampa for Clover, as well as other properties in Hillsborough, Pinellas and Manatee Counties.
About Clover Investment Properties
Clover is focused on discovering and delivering on innovative value-add real estate opportunities. We develop and invest in the markets we intimately understand, primarily in the Southeastern United States. Our capabilities span from ground up development to repositioning properties that are underperforming relative to their potential, with experience across various product types. To learn more visit clover-properties.com.
About Commonwealth Commercial Partners, LLC
Founded in 1996, Commonwealth Commercial is a leading full-service commercial real estate firm headquartered in Richmond, VA, with offices in Hampton Roads VA, Nashville TN, Jacksonville FL, Tampa FL, Columbus OH, Charlotte NC, Raleigh/Durham NC, Greenville SC, Charleston SC, Houston TX, Kansas City MO, St. Louis MO, and Minneapolis MN. The company provides demonstrated expertise in the areas of leasing, purchasing, selling, developing, consulting, property management and asset management services. To learn more, visit www.commonwealthcommercial.com.