[EDITOR’S NOTE: This story was updated after an interview with the marketing agent at noon on Thursday, October 6. ]
Sears’ former site at the Paddock Mall is advertised as an “entertainment destination,” and the new owner says the giant building will house retail businesses, restaurants and/or entertainment venues for the whole family.
Tobin Real Estate Senior Vice President Louie Granteed presented leasing efforts months after representing BSD Capital in its $3. 3 million acquisition of the site.
Seritage SRC Finance LLC, a subsidiary of New York-based Seritage Growth Properties, the seller. Tobin Real Estate is commercializing rental opportunities for the 148,857-square-foot space, which covers two buildings: the former retail store in the mall and the closure by the former Sears Auto Center.
Previous Coverage: Former Sears Building at Ocala’s Paddock Mall Sells for $3. 3 Million to Florida Development Group
Farewell to Sears: The town of Sears is no longer in the Paddock Mall
Sears Campus?: Marion School Board Envisions Sears Building as a Combined MTI and TCM Campus
Granteed said in a phone conversation Thursday that he and an architect walked Through the large Sears construction site Wednesday to see what would be viable there.
Because of the height of the ceilings, his company ruled out the option of building hotel rooms as part of the construction, he said. Granteed said several companies have expressed interest, from a family-owned indoor trampoline business to large retail stores.
The remodeling will focus on shops and restaurants, as well as businesses specializing in family entertainment.
“So what we’re going to do is create anything that works in tandem with the mall,” he said. “In the current state of big stores, we can retail, we can make meals and entertainment. We can do the shopping. “
One vision is to have multiple restaurants, available from the outside, around the perimeter of the mall’s main construction and to have retail stores and/or family circle entertainment venues connected to the mall.
“The restaurants would have access from the outside, as they would be open later than the mall,” he said. “The mall receives 3. 3 million visitors a year, so it’s a very busy place. Often, other people need to stop by to buy groceries,” and then move on to get something to eat after the mall closes. “
Ultimately, Granteed said, it’s also operating with a giant box store that could rent out the entire space. He said there had been interest in the past, but that construction had been vacant for 4 years pending the liquidation sale.
“Our consumer plans to unlock the great prospect of this site,” Granteed said in a press release. “The remodeled area is suitable for a wide variety of tenants, adding large retailers, grocery outlets and entertainment operators. We are already receiving significant interest from potential tenants. “
Conceded extra said that “we don’t know who in the afterlife has been interested and hasn’t figured out a position yet. “
“A box store would possibly want the 129,000 square feet. Therefore, the final vision will be based on interested tenants,” he said. Granteed said an entertainment company is looking for space for an indoor trampoline company.
Once the tenant and/or tenants signed a lease, Granteed said it would immediately share the news. He said he would market the former auto center and hopes it will be a company related to the horse industry.
It’s been 4 years since Sears’ construction was videotaped at Paddock Mall.
At one point, the Marion County School Board conducted the main construction of the next house to the school district headquarters. Both homes were sold in August to 3100 College Rd Holdings LLLP for $3. 296 million.
The registered agent of the 3100 College Rd Holdings organization is Guy Levintin of BSD Capital LLC, a South Florida company and development.
Levintin notes on his LinkedIn page that BSD Capital LLC buys, rents and manages income-source housing in Florida, Atlanta and New Jersey.
Joe Callahan can be reached at (352) 817-1750 or joe. callahan@starbanner. com. Follow him on Twitter @JoeOcalaNews.