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Talk of the Bay: New owners, same managers for Tampa mall

Yes, those were architects and engineers measuring up Tampa's University Mall last week for a big remodeling project.

By Times Staff
Published October 15, 2007

New owners, same managers for Tampa mall

Yes, those were architects and engineers measuring up Tampa's University Mall last week for a big remodeling project. Recently sold to Somera Capital Management, a California real estate investment firm, for $145-million, the mall continues to be managed by Glimcher Realty Trust, the Ohio mall operator that sold it. Somera, however, has hired General Growth Properties Inc., the nation's second-largest mall operator, to take over leasing, marketing and coming up with a long-range plan for development of the regional mall next to the University of South Florida's main campus. Glimcher continues to run the dated 35-year-old mall, but Somera has an option to replace Glimcher. No decisions have been made about remodeling, but details are expected to be unveiled in a month or two. "The focus is going to be on enhancing our retail offering," said Tom Locke, mall manager.

Canker battle heads to court

Florida's growers have given up trying to get a handle on citrus canker. But the lawyers are still battling the cause. Today, a trial will begin in Palm Beach County in a class-action lawsuit pitting thousands of Florida homeowners against the Florida Department of Agriculture and Consumer Services. The homeowners allege they did not receive full compensation for the state-ordered destruction of their trees. Under Florida's Citrus Canker Eradication Program, the state destroyed all trees within a 1,900-foot radius of an infected tree. The case in Palm Beach County will determine the state's liability. If homeowners win, the case will go to a jury to determine their compensation.

Get venture cash for your big idea

Got the great business idea, just not the cash? Here's your chance to find some deep-pocketed investors. The 17th annual Florida Venture Capital Conference will be Jan. 28-30 at the Renaissance Vinoy in St. Petersburg. About 20 to 25 Florida companies will be accepted to pitch themselves to a national audience of venture capitalists, investment bankers and private-equity bankers. This is not small potatoes: More than 1,200 people attended the last conference, including reps from 200 VC firms. Presenters from the past 16 conferences have raised more than $1.4-billion. Sound good? The application deadline is Nov. 19. More information is available at www.floridaventureforum.org.

[Last modified October 12, 2007, 21:33:43]