
University Mall Transforms into Mixed-Use Urban Development Neighborhood
TAMPA, Fla. — The University Mall off East Fowler Avenue is turning into a mixed-use development neighborhood.
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From marketing to negotiation, excellence in our leasing capabilities sets RD Management apart. We seek best-in-class retailers to achieve the optimal tenant mix through aggressive marketing campaigns targeted at our expansive network of contacts.
By conducting local retail analysis and market reports, we are able to identify market conditions and trends, monitor the competition, determine appropriate tenant mix, and establish rent guidelines for maximum income potential.
Once suitable prospective tenants have been identified, our experience and reputation allow us to negotiate directly with national and regional retailers to expedite lease execution. We assist prospective tenants through all details from leases to lease amendments, to dealing with local officials and regulatory boards.
Recognizing that time is money, we work hard to minimize vacancy time and rate. The result is expeditious leases, thriving properties and successful tenants.
Our shopping centers and tenants rely on the proficient RD Management team for in-depth, detailed property management. From our executive team to our on-site managers, we realize that well-run shopping centers draw the most attractive tenants and yield the highest sales volumes. We regularly review each site for curb appeal, practice competitive bidding for services, and watch for excessive overhead costs.
Each site is regularly inspected to evaluate, establish or provide the services required to ensure the property is operating in top condition. Our managers work with local personnel to be our eyes and ears at their respective locations to establish and maintain ongoing and preventive maintenance schedules and to identify potential problems. Some of the services we provide include:
At RD Management, we recognize that each shopping center has distinctive characteristics that present unique challenges. We deal in construction and development within new and existing centers and provide maximum due diligence to ensure maximum returns by preparing construction budgets and timelines so that all projects are brought in on time and within budget.
We monitor all aspects of the project in order to anticipate problems and implement preemptive corrective actions well in advance. Monthly progress reports clearly inform on project status and adherence to budgets, schedule, contract drawings, specifications and quality standards.
An elite team of architectural, engineering and legal professionals assists our in-house construction and architectural departments. Additionally, because we know time is money, we work to ensure smooth transitions that won’t jeopardize critical cash flow.
Our financial formula is simple: minimize expenses and maximize returns. We use best-in-class systems, accounting procedures and IT technology to monitor and manage each of our shopping centers. This gives us easy access to records of rent and additional charges as well as sales volume and history, cost tracking and tax services, detailed real time monthly reports, effective rent collection protocols, insurance verification and audits.
We realize it’s all about ROI – getting the highest rate of return on each real estate investment. Our accounting and financial services include implementing reasonable overhead expenses to assure tenants of the lowest operating costs, maintaining separate accounts of income and expenses for the center and property management, and providing projections and operation reports regarding the current and potential value of the center.
To prepare a leasing agreement or resolve difficulties, we turn to our own legal department who are experts in real estate law and the art of timely negotiation. Our staff consists of highly trained professionals who prepare and negotiate all forms of real estate contracts from leases to lease amendments, loan papers, management agreements, and sales contracts. Our legal team has relationships with their counterparts at top retailers which allows for expedited negotiations. We will also initiate collections matters at the corporate level and oversee all local counsel engaged to process collections and evictions when needed.
Attention to detail helps us anticipate and resolve any potential legal issues before they become problems. Our legal team works hand-in-hand with local attorneys and officials to expedite signing of the lease by the tenant with the goal of arranging a leasing agreement with mutual advantages in the least amount of time. In addition, because we’re fully integrated, tenants can expect a seamless process.
We run state of the art systems and equip our staff with the latest technology to deliver efficient and thorough work products and ensure quality IT services. In order to minimize interference with productivity and output, our team consistently employs or deploys full-service troubleshooting capabilities to resolve individual and network issues.
We are concerned with the implementation of quality IT services that meet the needs of our organization and tenants, and we pride ourselves on quickly identifying IT problems at the source and working with speed and precision to resolve them. Our in-house expertise in premium technology implementation and support provides assurance to keep us up and running at all times.
TAMPA, Fla. — The University Mall off East Fowler Avenue is turning into a mixed-use development neighborhood.
Michael Carroll and John Hayes have joined New York City-based RD Management LLC, a property owner and operator with a portfolio comprising more than 170 properties throughout the continental U.S. and Puerto Rico.
While the future of traditional malls continues to be in flux, new mall owners see the huge pieces of land as an opportunity to reinvent.
New York-based RD Management LLC bought the Casselberry Exchange at 5803 S. U.S. Highway 17-92 from Apollo Global Real Estate for $13 million in a deal that closed Oct. 16, according to Seminole County records.
It's called RITHM—the acronym, derived from the word algorithm, stands for Research, Innovation, Technology, Humanity & Medicine—and when the 100-acre, 7M SF mega-project is finally completed in Tampa's Uptown District, it will cover all of those sectors. The mixed-use redevelopment of the 1.3M SF University Mall is being built in phases by RD Management, which this month unveiled the scope of the student housing component. RD is partnering with Core Spaces on the student housing space, which envisions a total of 3,000 beds, 150 conventional units and 10K SF of retail in the student housing part of the project.
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