Van Dyke Commons

Property type: Retail
Business line: Operating Properties
Location: Tampa Bay, FL

Van Dyke Commons
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A well-situated power center mall in Lutz, Florida just outside of Tampa, Van Dyke Commons was in the process of being repositioned and improved when the new owner’s money ran out. The first thing we did upon taking ownership was to restore the faith of the brokerage community, making good on what they were owed and promising to pay faster than standard on new transactions. We infused cash into the improvements, cleaning up where corners had been cut. We cleared out tenants that were in default, renewed ten near term lease expirations and signed four new tenants to join the mall. Within 16 months, the mall reached 100% occupancy and we sold it at a profit.