Two days after closing, Ross Stores signs on as national tenant
Tampa, Fla. (July 26, 2021) – Mishorim Gold Properties announced today the acquisition of the 215,713 square-foot Horizon Park shopping plaza on West Hillsborough Avenue for $22 million.
Just days after closing on the purchase, Ross Dress for Less signed on as a national tenant, closing the 86% lease rate to 98%. Ross will occupy about 30,000 square feet.
This is the third property purchased by Mishorim Gold in Tampa Bay in less than two years. Mishorim Gold Properties purchased the Grove at Wesley Chapel for around $64 million, adding more than 75 new tenants in less than a year and bringing with it a new vision in shopping, dining, and entertainment. In August 2020, MGold purchased Holiday Mall for $8.56 million. At the time, it had a 40% vacancy rate and today boasts a 98% lease rate.
MGold Properties has purchased almost 1 million square feet of property in less than a year and a half. The company is looking to purchase an additional 1 million square feet of commercial retail space in the next year.
“We love Tampa, the energy of the people, and the spirit of the community,” said Developer and Landlord Mark Gold. “We look forward to putting Horizon Park on the map and being a leader in commercial retail properties in the region.”
At Horizon Park, the property will undergo improvements in line with the vision of Mishorim Gold. Horizon Park anchor tenants include dd’s Discount, Conn’s Home Plus, Northern Tool and Guitar Center. The center tenant roster is made up of 80% national tenants, which includes several national credit operators like Dollar General, Pizza Hut, Metro PCS, Amscot and Sally Beauty. Two improved outparcels, with Wells Fargo and Applebee’s, were included in the sale.
At the Grove at Wesley Chapel where there are 20 big box national brand stores, Gold has spent the past year and a half turning the shopping complex into Wesley Chapel’s shopping and entertainment destination. New offerings include a movie theater of the future that opened in February with luxury reclining chairs and in-movie dining; a Hawaiian-themed miniature golf course with 18 holes, waterfall and neon lights set to open this year; and open-air live concerts and events throughout the year.
Other projects and tenants scheduled to open in and around the Grove include:
- a fully-leased container park of 94 shipping containers that will showcase 54 restaurants and retail businesses, along with weekly events
- a national coffee chain that will open near the front of the Grove entrance
- a national grocer that will occupy 14 acres
- a residential community adjacent to the property called Grove West, which will offer 330 apartment units and 82 townhomes and
- another residential community north of the Grove Theater, Bistro, and Entertainment Complex that will hold 540 homes and
- more exciting national tenant news coming soon
At Holiday Mall, the owners of Tampa-based PK’s PLAYZONE & GRILLE will relocate to the Holiday Mall. The 24,000 square foot family fun center will host several attractions like laser tag, rope course, rock climbing, ninja obstacles, toddler zone, and virtual reality experience. There will also be more than 100 video games, four party rooms, and electronic darts.
Horizon Park is the 23rd property owned by the partnership and the third property purchased in 22 months.
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About MGold Properties
Mishorim Gold Properties, based in Wesley Chapel, Florida, serves as the landlord of millions of square feet of real estate in North America. The firm has recorded tremendous success in the real estate industry and is known for bringing old shopping centers back to life, revitalizing neighborhoods, and transforming communities.