Tampa, Florida -- The "For Sale" sign outside Centro Ybor has been taken down after several months on the market.
In a news release sent out on Monday, the current owners of the Ybor City complex, CMJ Centro Ybor, LLC -- an affiliate of M&J Wilkow, Ltd. of Chicago -- said they will retain the 216,000-plus-square-foot facility after deciding this wasn't the best time to sell the office-retail-restaurant complex, which is 89 percent occupied and thriving.
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"We were pleased with how the sales process was going, but as things moved along, we decided we want to continue our ownership," said David Harvey, Senior VP of Sales and Acquisitions for M&J Wilkow. "Interest from prospective tenants has increased, and we feel that the value of the property will continue to grow."
Over the past year, the complex has added a number of successful retailers and restaurants, such as Carne ChopHouse and Ybor City Wine Bar, along with several major office users, including Fortune 300 logistics provider C.H. Robinson, and creative agencies Tampa Digital Studios, Chappell Roberts, and Grafx.
has owned Centro Ybor since 2006. The property also includes a 20-screen Muvico movie theater.
"The marketing process further showed how valuable Centro Ybor truly is," said Mike Milano, a veteran retail specialist with Colliers International Tampa Bay, who handled the marketing of the property after it went on the market last July. "The owners' work to bring more office tenants, while continuing to focus on quality stores and restaurants, has been extremely successful. We agree it's a smart move for them to hold on to the property."