University Mall owners buy Dillard's anchor box
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 26, 2015

The New York developer planning to revitalize University Mall has picked up a piece of real estate that could be key to those plans.

RD Management LLC paid $6.25 million for the Dillard's Inc. anchor box in a deal that closed Aug. 20, according to a Hillsborough County deed filed Wednesday. The 190,248-square-foot department store and its 275,820-square-foot parking garage and surrounding land occupy more than 7 acres, according to county property records.

Neither a representative from RD Management nor Dillard's were immediately available for comment late Wednesday. The Dillard's at University Mall includes one of the retailer's clearance centers.

The Dillard's box was not part of the first phase of redevelopment plans unveiled months ago, though earlier conceptual plans had shown medical office and student housing on the northern end of the property.

In June, RD Management released the first phase of its redevelopment plans, which was to renovate the JCPenney box on the western edge of the mall into space for three new anchor tenants, including a health club. The first phase also planned to demolish a portion of the enclosed mall to make way for an open-air gathering space.

Construction is slated to begin in early 2016, though RD has yet to announce whether any tenants have committed to the redeveloped space. RD acquired the mall in December 2014, paying $29.5 million for the 460,000-square-foot enclosed mall, the parking garage and a few outparcels.

Burlington Coat Factory, Macy's and Sears still occupy the anchor boxes they occupy.