Shoppes at Park Place

Shoppes at Park Place is a shopping center in Pinellas Park, Florida, United States. It occupies the site of a former enclosed mall that opened as Pinellas Square in 1977 and was later renamed ParkSide Mall. The present center emerged from the redevelopment of that property after the earlier mall experienced prolonged tenant losses, weak occupancy, ownership changes, and financial distress. The original Pinellas Square Mall opened on April 13, 1977. Its initial major tenants included J. C. Penney, Montgomery Ward, and Ivey's, while a three-screen General Cinema theater provided an entertainment component. Ivey's became Dillard's in 1990 following Dillard's acquisition of the department-store chain. The property was associated with DeBartolo Realty Corporation during its early period and later came under the control of John Hancock Insurance Company after mortgage-related financial problems. Divaris National LLC was brought in to assist with management. The mall's performance deteriorated during the 1990s. By late 1996, occupancy had fallen to approximately 50 percent. A proposed $20 million renovation was delayed while approval was sought from the major anchor tenants. Work eventually began in 1997 and included an ice-skating rink, a planned food court, and proposals for a new cinema. The property was renamed ParkSide Mall in 1998, but the physical improvements did not produce a durable recovery. By 2000, occupancy was again reported at roughly 50 percent, and the center increasingly accommodated nontraditional mall users, including a public library, a dance studio, and a pet-adoption center. The property was placed on the market in December 2002. Although its reported occupancy had improved to 78 percent, the mall was subsequently acquired by Tampa-based Boulder Venture South for $12 million in May 2003. Pinellas Park officials approved a redevelopment plan in October 2003 that called for replacing the enclosed mall with a new shopping center. Dillard's closed in January 2004, followed by the JCPenney outlet in May. The former mall ceased operations in June 2004, and demolition was under way by November. The replacement development was marketed as Shoppes at Park Place. Its tenant mix was designed around large-format retail, entertainment, dining, and service uses rather than the traditional enclosed-mall model. Target, American Signature Furniture, Michaels, banks, restaurants, and other businesses were planned or opened at the new plaza. The existing cinema was preserved through the redevelopment, acquired and rebranded as Regal Park Place Movies 16, and eventually reopened in August 2005 after delays. The current center has been described as anchored by Marshalls, Target, Regal Cinemas, and Academy Sports + Outdoors, with Conn's HomePlus and Petco serving as junior anchors. Shoppes at Park Place is therefore best understood as a retail-property brand and redevelopment successor to a failed regional mall, rather than as a conventional consumer-goods brand. Its identity is tied to its Pinellas Park location, its open-air shopping-center format, and its concentration of national value, home, sporting-goods, pet-supply, and entertainment tenants. In 2018, the plaza became involved in a foreclosure lawsuit seeking approximately $71 million, after which the property was listed for sale by Colliers International. Available reference material does not establish a subsequent change in ownership or the center's current legal owner.

The site began as Pinellas Square Mall, which opened in Pinellas Park on April 13, 1977. J. C. Penney was the first major anchor, followed by Montgomery Ward on November 2 of that year. Ivey's joined the center in September 1978, and a three-screen General Cinema theater opened in May 1977. The property was associated with DeBartolo Realty Corporation. Ivey's became Dillard's in 1990 after Dillard's acquired the chain. During the mid-1990s, the mall experienced serious financial and operating difficulties. DeBartolo began defaulting on mortgage payments, and John Hancock Insurance Company acquired the property in lieu of foreclosure shortly before DeBartolo's acquisition by Simon Property Group. John Hancock engaged Divaris National LLC to assist with management, but occupancy continued to decline and reached about 50 percent by late 1996. A major renovation was proposed at a cost of $20 million. The work was delayed because the owners could not secure timely approval from all three anchors. Renovation eventually began in 1997, adding a 120-by-50-foot ice-skating rink and planning a food court and new movie theater. The mall reopened after renovation in October 1997 and was renamed ParkSide Mall in 1998. These changes did not create a lasting turnaround. By 2000, occupancy was again around 50 percent, and the property began attracting alternative users such as a public library, dance studio, and pet-adoption center. R/C Cinemas Parkside Movies 16, originally planned for an earlier opening, finally opened on March 30, 2001. Montgomery Ward closed in 2001. A temporary Park Avenue Coat Company store occupied the former space for four months in 2002. Although reported occupancy reached 62 percent in 2002 and later improved to 78 percent when the mall was marketed for sale, the property remained structurally challenged. It was offered for sale in December 2002 with an asking price of $25 million and was purchased by Boulder Venture South for $12 million in May 2003. In October 2003, Pinellas Park officials approved a plan to demolish the enclosed mall and replace it with a shopping center called Shoppes at Park Place. Dillard's closed in January 2004, the JCPenney outlet closed in May, and the mall shut permanently in June. Demolition was under way by November 2004. The cinema survived the redevelopment, was acquired and renamed Regal Park Place Movies 16, and reopened in August 2005 following delays. The replacement plaza introduced a more contemporary large-format retail model. Target, American Signature Furniture, Michaels, banks, restaurants, and other tenants were planned or opened during the redevelopment. Later descriptions identify Marshalls, Target, Regal Cinemas, and Academy Sports + Outdoors as principal anchors, with Conn's HomePlus and Petco as junior anchors. In 2018, the plaza was the subject of a foreclosure lawsuit involving approximately $71 million. Colliers International listed the property for sale later that year. The available reference does not identify the eventual owner or document a definitive resolution of the sale process.

• 2018

  Foreclosure litigation and sale listing

  [1]Shoppes at Park Placeen.wikipedia.org

  The plaza faced a foreclosure lawsuit reported at approximately $71 million and was later listed for sale by Colliers International.

• 2005

  Replacement shopping center opens

  [1]Shoppes at Park Placeen.wikipedia.org

  The redevelopment introduced Shoppes at Park Place tenants, while the preserved cinema reopened as Regal Park Place Movies 16 in August.

• 2004

  ParkSide Mall closes

  [1]Shoppes at Park Placeen.wikipedia.org

  The former mall closed permanently in June, with demolition under way by November.

• 2003

  Redevelopment plan approved

  [1]Shoppes at Park Placeen.wikipedia.org

  Pinellas Park officials approved demolition of the enclosed mall and development of Shoppes at Park Place.

• 2001

  R/C Cinemas Parkside Movies 16 opens

  [1]Shoppes at Park Placeen.wikipedia.org

  The replacement multiplex opened on March 30 after earlier delays.

• 1998

  Mall renamed ParkSide Mall

  [1]Shoppes at Park Placeen.wikipedia.org

  The property adopted the ParkSide Mall name after its late-1990s renovation and repositioning effort.

• 1997

  Major renovation begins

  [1]Shoppes at Park Placeen.wikipedia.org

  A delayed renovation program began, including construction of an ice-skating rink and plans for a food court and new cinema.

• 1990

  Ivey's becomes Dillard's

  [1]Shoppes at Park Placeen.wikipedia.org

  Dillard's acquired Ivey's, converting the department-store anchor under the Dillard's name.

• 1978

  Ivey's completes the original anchor lineup

  [1]Shoppes at Park Placeen.wikipedia.org

  Ivey's opened at the mall on September 18.

• 1977

  Pinellas Square Mall opens

  [1]Shoppes at Park Placeen.wikipedia.org

  The original enclosed mall opened on April 13 with J. C. Penney as an anchor. Montgomery Ward joined in November, and a three-screen General Cinema theater opened in May.

A location-based, open-air retail and entertainment center serving Pinellas Park and the wider Tampa Bay area, with a tenant mix focused on value retail, general merchandise, home goods, sporting goods, pet care, and cinema entertainment.

Product categories. Discount and department-store merchandise · General merchandise · Home furnishings · Arts and crafts supplies · Sporting goods · Pet supplies and services · Cinema and entertainment · Restaurant and banking services

• 2005

  Launch of the Shoppes at Park Place retail centerProduct launch

  Background

  The redevelopment followed the closure and demolition of the former ParkSide Mall.

  Action taken

  A new shopping plaza opened with tenants including Target, American Signature Furniture, Michaels, banks, restaurants, and a continuing cinema presence.

  Aftermath

  The property operated as a shopping center rather than an enclosed regional mall and later included Marshalls, Academy Sports + Outdoors, Conn's HomePlus, and Petco.

  Source

• 2003

  Replace the enclosed mall with an open-air shopping centerStrategy

  Background

  ParkSide Mall had suffered low occupancy, anchor departures, and unsuccessful earlier repositioning efforts.

  Action taken

  Officials approved a redevelopment plan to demolish the enclosed mall and create Shoppes at Park Place with large-format retailers and entertainment uses.

  Aftermath

  The mall closed in 2004, demolition followed, and the replacement center opened with a substantially different retail format.

  Source

• 2018

  Foreclosure lawsuit involving Shoppes at Park Place[1]Shoppes at Park Placeen.wikipedia.org

  Lawsuit · Other

  The shopping center faced a foreclosure lawsuit reported at approximately $71 million. Colliers International subsequently listed the plaza for sale.

1. 1Shoppes at Park Placeen.wikipedia.org