West Village Commons, a 60,234-square-foot neighborhood shopping center at 5320 Ehrlich Road in Carrollwood, has changed hands in a multimillion-dollar deal that quietly closed today. Zar Capital Group bought the center from longtime owner Barclay Group for $14.9 million, picking up a busy corner at the signalized intersection of Ehrlich and Turner roads, shadow-anchored by a heavily trafficked EoS Fitness.
Deal Details
According to CoStar, Zar Capital Group acquired West Village Commons from Barclay Group for $14.9 million. The outlet notes that RIPCO brokers Ari Ravi and Nathan Timmons were listed as the contacts on the offering. CoStar also reports the property totals roughly 60,234 square feet and had been actively marketed earlier this year.
Tenants And The Offering
Marketing materials from RIPCO billed the center as shadow-anchored by EoS Fitness, with an asking price near $15.5 million and in-place net operating income of around $1.1 million. Listing information on Crexi and in brokerage flyers highlights a tenant roster that includes Dollar Tree, the U.S. Postal Service and Little Caesars, reinforcing the center’s service-focused lineup. The same materials play up the dense Carrollwood trade area and note several full-access entry points directly off Ehrlich Road.
Why Buyers Are Still Chasing Neighborhood Centers
Neighborhood shopping centers like West Village Commons remain hot targets in Sun Belt cities, with investors still crowding into service-heavy retail where vacancy is scarce. Marcus & Millichap’s retail outlook, cited by ROI-NJ, points to historically tight vacancy and steady demand that keeps buyers circling these kinds of properties. On a broader level, CBRE has flagged Tampa as one of the top markets drawing institutional capital in 2026, according to statewide coverage from Florida Corporate News, which helps explain why a Carrollwood center packed with daily-needs tenants is not lingering on the market.
About The Buyer
Zar Capital Group describes itself as a real estate investment group focused on multifamily and value-add opportunities and syndications. The firm’s public materials emphasize investor returns and a growing portfolio, but they do not spell out specific business plans for the Tampa property. In its coverage of the sale, CoStar characterized Zar as a private REIT in connection with the transaction.
What Comes Next
RIPCO brought West Village Commons to market earlier this year, naming Ari Ravi and Nathan Timmons as the investment sales contacts in the offering. Their materials pitched the deal as an opportunity for engaged ownership, with mark-to-market upside in junior boxes on the southeast corner of the center, according to the offering memorandum. Now that the sale is showing up in brokerage reports, market watchers will be looking for lease-up moves or re-tenanting plays as Zar Capital Group settles in as the new owner of this Carrollwood retail hub.
