The owner of Tampa’s WestShore Plaza has completed a key acquisition, purchasing the last remaining piece of the mall property — the Macy’s department store — as part of a larger vision for a mixed-use redevelopment. WPG, an Ohio-based private real estate investment trust, acquired the 235,198-square-foot Macy’s store in October for $10 million, according to Hillsborough County property records. This acquisition brings WPG’s total control over WestShore Plaza’s 50-acre property, which sits at the intersection of Westshore and Kennedy boulevards.
WPG has been assembling the land for nearly a decade, acquiring not only the Macy’s store but also the former Sears building, Seasons 52 restaurant, and a Bank of America branch. In October, Dick’s Sporting Goods vacated its 80,000-square-foot space at WestShore Plaza, moving to a new location at International Plaza.
The redevelopment plans for WestShore Plaza were approved by Tampa City Council in April 2024. These ambitious plans include up to 3.5 million square feet of mixed-use development, encompassing entertainment, retail, dining, office, wellness, medical, hotel, and residential spaces. Despite receiving approval, WPG still faces financing challenges, a common hurdle in the commercial real estate sector. Experts predict that WPG may seek a joint venture partner to help realize the redevelopment, although Dallas-based Lincoln Property Co., initially connected to the project, appears to have stepped back from a potential partnership.
It is not yet confirmed if Macy’s will continue operating in WestShore Plaza. While Macy’s has closed several locations in recent years, it’s possible the retailer could reach a sales-leaseback agreement with WPG, allowing Macy’s to retain a presence in Tampa as part of the new mixed-use development.
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Stay tuned for more updates as this exciting redevelopment transforms WestShore Plaza into a modern, mixed-use destination for Tampa residents and visitors alike.
