RD Management Acquires the Sears Property at University Mall in Tampa, Florida

New redevelopment to be rebranded to Uptown

NEW YORK--()--RD Management LLC, one of the nation’s largest privately held real-estate development and management organizations, announced today the acquisition of the Sears property at University Mall in Tampa, Florida, placing the nearly 100-acre retail property under the control of one owner for the first time since the tract was originally assembled in the early 1970s. As part of its redevelopment, RD Management will rebrand and rename University Mall to Uptown.

“This mall is a vital part of Tampa’s commercial corridor. Uptown will provide shopping experiences that today’s retailers seek”

Sears’ retail business will continue to operate on its normal schedule as the property transforms from a traditional, enclosed mall into a vibrant mixed-use, city center. When complete, Uptown, an anchor member of Tampa’s !p (formerly known as Tampa Innovation Alliance), will be a multi-story, open-air, development showcasing retail, entertainment, hospitality, education, medical, office, and residential uses.

“This mall is a vital part of Tampa’s commercial corridor. Uptown will provide shopping experiences that today’s retailers seek,” said Chris Bowen, RD Management’s Chief Development Strategist for the redevelopment project. “As we develop Uptown, it is our vision that it will generate a renaissance of the North Tampa market creating Tampa’s Uptown District.”

Located in the northeast quadrant of the Tampa trade area with frontage on East Fowler Avenue and Club Drive, the 1.3 million-square-foot shopping center is easily accessible by major highways I-275 and I-75. Connected by University Square Drive, is just a stone’s throw away from the University of South Florida’s main campus with more than 47,000 students and 16,000 faculty and staff members. It’s also in close proximity to major employers such as the H. Lee Moffitt Cancer Center & Research Institute, Shriner’s Hospital for Children, and Busch Gardens Tampa Bay. Tenants include Dillard’s, Burlington, Sears, Grand’s, Studio Movie Grill, Portillo's, and Miller's Ale House.

“The acquisition of the Sears property marks a significant milestone in the transformation of the entire University Mall site,” said Roger Hirschhorn, COO RD Management. “We are excited to include Sears in the dynamic, mixed-use center we’ve always envisioned for this extraordinary community of educators, scientists, caregivers, students, business people, and hardworking and inspiring neighbors.”

University Mall is one of 12 properties owned by RD Management across Florida, and one of more than 150 properties in its national portfolio. Those interested in leasing existing space can contact John Morrell at (813) 971-3466 or jonathon.morrell@cbre.com. For those interested in leasing space related to the new Uptown development, please contact Christopher Bowen at (813) 971-3466 or cbowen@RDManagement.com or David Conn at (813) 273-8440) or david.conn@cbre.com.

About RD Management

Consistently ranked among the nation’s largest, privately held real-estate development and management organizations, RD Management owns and operates a portfolio of 150+ assets throughout the United States and Puerto Rico, with properties spanning the mixed-use, retail, office, residential, hospitality, self-storage, senior/student housing, industrial, and government sectors. RD Management specializes in development, redevelopment, and acquisitions in key markets and maintains in-house expertise in leasing, property management, construction, accounting and finance, legal, and information technology services. With more than 40 years of experience, RD Management has a proven track record of enhancing the value of its properties through hands-on management, renovation, and expansion. For more information visit www.rdmanagement.com.

Contacts

Press Contact:
Gregory FCA
Leigh Minnier, 610-228-2108
Vice President
leigh@gregoryfca.com
or
Company Contact:
RD Management
Lauren Holland
Marketing Manager, 212-265-6600 x258
Lholland@rdmanagement.com

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Release Summary

RD Management announces the acquisition of Sears at University Mall and the rebranding of the center to Uptown as part of its redevelopment plan.

RD Management LLC