Woodlands Square Completes Redevelopment with New Tenants, Strong Anchor Mix, and More

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April 9, 2018

OLDSMAR, FL — Less than two years ago, the pressing questions in Oldsmar were what grocery store planned to open at Woodlands Square and what other changes might the owners make as part of the center’s major redevelopment?

After demolishing functionally obsolete space near the back of the center to make way for new tenants and better traffic flow, today the 315,000 SF center is home to a diverse line-up of major anchor tenants.  What’s new?

  • The 24,000 SF specialty organic and natural foods grocer, Earth Fare, adding a vital component to the diverse tenant mix
  • A $7 million renovation and long-term lease extension of the existing AMC Theatre that features plush power-recliner seating, an IMAX theatre, online ticketing, reserved seating, and renovated concession area
  • Backfilled the former Office Depot with the addition of PetSmart and Five Below
  • Constructed a free-standing Ulta cosmetics which further strengthens a retail anchor tenant draw that includes Beall’s, Marshall’s, and Dollar Tree
  • Shaker n Peel, a new restaurant concept owned and operated by the proprietor of the highly successful onsite Craft Street Kitchen, further solidifying an already eclectic restaurant component that includes Green Market Café, Ruby Tuesday, and long-time local favorite Eve’s Family Restaurant
  • New building facades, new signage throughout, roofing, paint, parking lots, parking lighting, landscaping, and awnings
  • A two-way ingress/egress drive via the Tampa Road signalized intersection

“Whether through new construction, lease extensions, lease amendments, or tenant relocations, we touched roughly 270,000 square feet — roughly 85 percent — at Woodlands as part of this extensive redevelopment,” says Jonathan Porter, VP-Asset Management & Finance for Ram Realty Advisors, the property owner. “The tenant mix takes advantage of our prime location; we are 96 percent occupied and we believe it is because of our commitment to transformative redevelopment of a center that was first constructed in 1987.

“Not only did we bring in new tenants that will help increase traffic and drive sales for the balance of the center, but we spent time and effort to take care of our existing tenancy, assuring residents of Oldsmar and the surrounding communities of a great destination for entertainment, dining, shopping, personal services, and more.”

“We can’t think of a better location in the area for us than Woodlands Square,” said Frank Scorpiniti, president and CEO of Earth Fare. “Oldsmar shoppers have welcomed us with open arms, and we’ve been honored to bring to them the broadest assortment of clean, healthy foods available anywhere these past several months. We look forward to continuing to serve our new friends and neighbors.”

Woodland Square is also home to other national tenants Anytime Fitness, Coast Dental, Fantastic Sam’s, Kids Park, Pinot’s Palette, and Salon Lofts. Local tenants include Janice Brand DDS, T&T Nails, Perfections Hair Salon, My Greek Corner, Richard’s Foodporium, Eve’s Florist, and Ruth Fashions.

Located 20 minutes northwest of downtown Tampa, in Pinellas County (the most popular destination on Florida’s Gulf of Mexico), this prime location boasts 78,000 VPD at the Tampa Road and Curlew Road intersection, and excellent target demographics for its tenants with an average household income of $81,199 and 73,548 residents (with projected growth of 3% by 2022) in a three-mile radius, and daytime employment of 34,167.

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ABOUT RAM

Founded in 1978, Ram Realty Advisors is an affiliated group of companies and partnerships that acquire and develop retail, multifamily, and mixed-use properties in select high-growth markets in the Southeast. The company capitalizes investments primarily with Ram-sponsored discretionary private equity funds. Since 1996, the company has deployed in excess of $2.5 billion of capital. Ram is headquartered in Palm Beach Gardens, Florida and has offices in Fort Lauderdale, Florida; Charlotte, North Carolina; and Durham, North Carolina.

Ram contact:

Jonathan Porter
Ram Realty Advisors
office: 561.282.4628

Media contact:

Kelly Owens
Alchemy Communications Group
office: 561.935.9953 x.101
mobile: 561.222.4958

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