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PO Box 1212 Tampa, FL 33601 Pinellas Updated November 2024
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RETURN TO NEWS INDEX Centro Ybor operators eye Channelside Bay Plaza Officials with the M&J Wilkow Ltd. real estate firm of Chicago confirmed they have put in a financial bid to take over the mortgage that backs the entertainment complex, which would effectively make them the new operator. "We are one of the bidders," said David Harvey, senior vice president and acquisitions director at M&J. Harvey declined to offer many details on his bid, other than to say "The potential that exists at Channelside is substantially different. We would not be copying the strategy we used at Centro." Without divulging names, Harvey noted his bid includes two other parties that have local ties to Tampa, and he noted that M&J Wilkow helped revitalize entertainment centers in CocoWalk in Coconut Grove, Beach Place in Fort Lauderdale and Newport on the Levee in Newport, Ky. Presently, the Port Authority owns the land underneath Channelside, but the Anglo Irish bank of Ireland holds the mortgage on the above-ground property, which has gone through a foreclosure. Anglo Irish last week started entertaining offers to take over that note, though the Port Authority can ultimately approve which party takes over. M&J Wilkow now runs Centro Ybor and has organized a gradual revamping of the property to convert empty retail and movie theater space into office space. At least two other parties have come forward publicly as bidders. Tampa Bay Lighting owner Jeff Vinik is leading one group that includes commercial real estate executive Andrew Wright and Anthony Everett, who is also a real estate executive and the son of notable local real estate broker Toni Everett. A rival four-person group includes Bill Edwards, who recently took ownership of the struggling BayWalk shops in St. Petersburg; real estate executive Lee Arnold; Rick Michaels, who is the current chairman and chief executive of Communications Equity Associates in Tampa; and Ken Jones, who is the CEA executive vice president and general counsel. Anglo Irish is reviewing bids, and will forward the names of those bidders to Port officials, who have said they hope for a more family friendly mix of shops and restaurants rather than nightclubs. |
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