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Equity and NRI to Bring Southshore Commons to Tampa Suburbs

May 14th, 2007
Press Release

TAMPA, Fla.— Columbus, Ohio-based Equity and its investment partner Columbus, Ohio-based Nationwide Realty Investors (NRI) recently announced that an exciting new mixed-use retail development – Southshore Commons – is underway in the southeast suburbs of Tampa, Florida.

“Southshore Commons will provide a much needed point-of-focus and a true community destination for the southeast Tampa suburbs,” says Equity Development Officer Phil Kilpatrick.” The 133-acre, 1.6-million-square- foot project will transform the region with an exciting mix of retail, dining, entertainment, hospitality and office uses providing an energy-filled commercial and mixed-use destination for surrounding neighborhoods.

Located at the intersection of I-75 and Big Bend Road in Hillsborough County, the Southshore Commons site is distinguished by a large, 14-acre lake that serves as the project’s southern boundary. The project will include more than 1 million square feet of retail and dining uses, 550,000 square feet of office space, more than 250 hotel rooms and a large multiplex? cinema. The retail component of the project will include a department store, several big box tenants, dozens of specialty retailers and several casual and upscale restaurants.

Commenting on retail leasing initiatives, Equity Executive Vice President of Real Estate Services John Brooks said, “Our leasing has been extremely strong. There is tremendous interest in this project for a number of reasons, including its highway access, exceptional demographics and ‘bullseye’ location.” Equity is already in discussions with a number of prominent department stores and big box tenants and dozens of specialty retailers and restaurants, all of whom are interested in becoming a part of this exciting project.

Surrounding demographics define extraordinary opportunity for Southshore Commons. More than 140,000 people with an average household income of over $54,000 live within a 15-minute drive of the site, and more than 116,000 residential units are already built or under construction within a 5-mile radius of the site.

“The community lacks a central destination,” says Kilpatrick.. “By providing critical retail and entertainment density, and creating a compelling community gathering place, Southshore Commons will become that space. With its compelling fusion of mixed uses, memorable aesthetics and unforgettable experiences, this project is destined to make an indelible mark on the commercial and mixed-use landscape of Hillsborough County.”


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