Centro Ybor, the massive retail complex and centerpiece of Ybor City, is now up for sale. Its owners, the Chicago-based real estate investment firm M&J Wilkow, have decided the time is right to put this 216,315 square foot complex on the market and are now seeking bids to determine the right price.
According to a press release, M&J Wilkow had a specific plan in mind when they purchased Centro Ybor 5 1/2 years ago. They wanted to add more office space, upgrade the quality of the tenants, and focus on stores and restaurants with staying power.
The strategy has paid off, said David Harvey, Senior VP of Sales and Acquisitions for M&J Wilkow.
Colliers International Tampa Bay will handle the sale of Centro Ybor. As opposed to advertising a listing price, Colliers and the current owners will have a bid process for the purchase of Centro Ybor to determine an appropriate price.
The top tenants inside Centro Ybor include the Tampa Bay Brewing Company, the Samurai Blue sushi restaurant, and the Muvico movie theater. It’s newest tenant, Carne Chophouse opened in April inside the massive building that once housed a furniture store.
This may be part of a bigger strategy for M&J Wilkow. Back in April they put out a bid to buy the Channelside Bay Plaza shopping and entertainment complex. We’ll keep you posted as more news arises.