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Vinik development group buys Tampa Marriott Waterside, marina


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  • | 10:00 a.m. October 17, 2014
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  • Tampa Bay-Lakeland
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BUYER: MWS Hotel LLC (CEO: Jac Sperling), Tampa
SELLER: HMC Hotel Development LP
PROPERTY: 700 S. Florida Ave., Tampa
PRICE: $150 million
PREVIOUS PRICE: $1.1 million, April 2001
LAW FIRM ON DEED: Andrews Kurth LLP, Dallas

PLANS, DESCRIPTION:
Strategic Property Partners LLC, Tampa Bay Lightning owner Jeff Vinik's development company, purchased the 719-room Tampa Marriott Waterside Hotel & Marina for $150 million.

The price equated to $208,623 per room.

The Tampa Marriott Waterside Hotel & Marina is located between Amalie Arena, home of the Lightning, and the Tampa Convention Center. The hotel features 50,000 square feet of total meeting space in 30 meeting rooms with two ballrooms. Its restaurants include Waterside Grill, Champions Sports Bar, Pool Bar & Grill, the Lobby Bar and Waterfront Patio. It also contains a full-service spa and fitness center, 32-slip full service marina and a rooftop swimming pool.

The hotel includes 683 guest rooms and 36 suites.

“[Strategic Property Partners] is excited to acquire this centerpiece downtown property, further advancing our plans for the development of America's next great urban waterfront district, right here in Tampa,” Vinik says in a press release.

The 14-year-old hotel has twice been named Marriott International's Hotel of the Year.

Separate of the most recent purchase, Strategic Property Partners is currently working to rezone 2.8 acres north of the Marriott to develop up to a 400-room hotel with 175,000 square feet of meeting space, retail space and condominiums.

 

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