Tampa Bay Lightning Owner Jeff Vinik’s real estate team is hoping that controlling the parking to Channelside Bay Plaza could help make the tired waterfront retail complex a success.
Port Tampa Bay on Tuesday approved a 364-day agreement with Vinik’s team to lease the side lot west of the plaza and the parking garage across the street, effective Feb. 1, said Jim Shimberg, chief operating officer of Strategic Property Partners, the holding company for Vinik’s real estate.
The port has agreed to exclusively negotiate with Vinik’s team for a longer-term agreement during the 364-day lease, Shimberg said.
Having the mall and its parking controlled by the same entity makes the logistics of events at the plaza easier. Franklin Street, which Vinik tapped to oversee the leasing and management of the plaza, has hired an events manager to activate the property.
The port will retain 75 percent of parking revenues generated, Shimberg said, with the remaining 25 percent going to Vinik’s team to cover operating expenses.