‘Seven figures’ into Vinik’s reinvention of Channelside Bay Plaza, a new sense of energy and an increase in sales

March 27, 2015

Vinik won the ground lease to the property on Aug. 19 and tapped commercial real estate firm Franklin Street and Tampa developer Anthony Everett to take the lead on renovating the plaza. Franklin Street CEO Andrew Wright said the group is working with Alfonso Architects in Tampa on a design for the property that could be finalized within 45 days.

Managing Channelside before and after transformation

The cost to rehabilitate just the Channelside complex isn’t disclosed yet, but Channelside will be a major entertainment anchor for developing the overall mixed-use neighborhood — a project with a budget that could top $1 billion.

From Tampa’s new Restoration Hardware to Publix, the future of retail is all about experience

“The real successful retailers today, they’re communities,” said Brian Bern, senior director with Franklin Street in Tampa.

3 Broward County centers trade hands

“There’s significant investor demand for multitenant, unanchored retail centers in South Florida,” Franklin Street’s Greg Matus said in a statement. “Rising rents and the low cost of capital are driving the market at the moment.”

Retail Property sells for $5.8M in Fort Lauderdale

Greg Matus and Peter Crane of Franklin Street Real Estate Services represented the buyer, Pinecrest AP, a private real estate investor based in the Northeast in the transaction.