Shoppes at Park Place foreclosure shows even solid retail can be vulnerable in changing climate

Online shopping and changing consumer preferences are impacting retail centers, but excess debt can play a role, too.

  • By Kevin McQuaid
  • | 6:00 a.m. April 6, 2018
  • | 0 Free Articles Remaining!
The Shoppes at Park Place, a 500,000-square-foot retail center in Pinellas Park, is facing foreclosure despite a 97% occupancy rate.
The Shoppes at Park Place, a 500,000-square-foot retail center in Pinellas Park, is facing foreclosure despite a 97% occupancy rate.
  • Commercial Real Estate
  • Share

From all appearances, the Shoppes at Park Place seems to be defying the retail apocalypse that is crippling so many shopping centers nationwide.

The Pinellas Park power center is nearly fully occupied by credit tenants such as Target, Marshalls, a Regal movie theater, Michaels Arts & Crafts, Petco and a raft of modern restaurants such as Pollo Tropical, Starbucks, Chipotle, among others.

 

Continue reading your article
with a Business Observer subscription.
What's included:
  • ✓ Unlimited digital access to BusinessObserverFL.com
  • ✓ E-Newspaper app, digital replica of print edition
  • ✓ Mailed print newspaper every Friday (optional)
  • ✓ Newsletter of daily business news
Subscribe

Already subscribed? Sign in.

Latest News

  • December 4, 2025
450-unit Nokomis apartment complex opens near Legacy Trail
  • December 4, 2025
Developer proposes Tampa's tallest building: 70 stories at $650 million
  • December 4, 2025
Airline adds flight from Fort Myers to upstate New York
  • December 4, 2025
50-year-old Tampa education-tech firm receives $350M investment

Sponsored Content