Hyde Park Village shopping center in South Tampa for sale
Hyde Park Village shopping center is now up for sale, but the average shopper walking the open-air neighborhood mall likely won’t see a change anytime soon.
The South Tampa property is majority owned by Manhattan-based office space development company Vornado Realty Trust, and minority owned by the retail-focused real estate company Madison Marquette.
In recent months, Vornado has shifted its overall strategy, and is exiting the bulk of their holdings in retail properties.
The two owners will certainly entertain all bidders, said Madison Marquette Vice President Chuck Taylor, but Madison is interested in taking over Vornado’s position. And since Madison currently manages the property on a day-to-day basis, there may be no changes imminent.
“This is our core type of property,” Taylor said. “Whereas retail is out of Vornado’s comfort zone, geographically here, and in the property type.”
While the village has lost some large tenants in recent years, and a stretch of property on Swann Avenue remains vacant, Madison Marquette has also attracted a new movie theater operator and re-signed several large tenants, including Pottery Barn, and will transition the Williams-Sonoma space into a new West Elm home goods store.
Taylor declined to say if the property listing has a formal offering price, and officials with the brokerage company handling the sale, HFF, were not immediately available for comment.
email@example.com (813) 259-7919 Twitter: @DailyDeadline