RD Management Selects JLL to Lease 1M SF Mixed-Use Project in Tampa

RD Management, the owner and developer of a significant mixed-use project in Tampa's Uptown District, has entrusted JLL's Central Florida Healthcare Practice Group with leasing responsibilities for the health-care, life science, and office segments of the development, known as RITHM.

Development Overview

The project involves the transformation of the former University Mall into a vast mixed-use space spanning 100 acres. This conversion, initiated in 2014, aims to create over 1.1 million square feet of versatile space accommodating health-care, life science, research and development, technology, retail, entertainment, coworking facilities, and corporate offices.

Scope and Potential

Upon completion, RITHM, an acronym representing Research, Innovation, Technology, Humanity & Medicine, could expand to over 7 million square feet, incorporating thousands of residential units. Positioned as Tampa's largest development and a prominent innovation hub in Florida, RITHM's completed sections already feature a mix of residential, commercial, and educational facilities.

Completed and Ongoing Developments

Several notable components of RITHM have already been realized, including multifamily units, student housing, and the Sprouts Farmers Market. Recent additions include facilities for the USF Institute of Applied Engineering and Vu Studios, indicating the project's diverse offerings.

Additional Projects

Hub Tampa, a significant student housing complex adjacent to RITHM, has been completed and is set for further expansion. Plans for a Marriott hotel and the construction of a shopping center featuring prominent retail brands are also underway, emphasizing RITHM's role as a dynamic urban center.

Nationwide Trend and JLL's Involvement

The redevelopment of University Mall aligns with a broader trend of repurposing underutilized shopping malls nationwide. JLL's Central Florida Healthcare Practice Group, led by Lucia Hedke and Bryan Rodriguez, plays a pivotal role in leasing efforts, reflecting growing demand for health-care and life science spaces in the area.

Leasing Efforts and Expansion

JLL's team is actively engaged in negotiations, aiming to convert a significant portion of existing space to health-care and life science facilities. The team's recent involvement in leasing Nona Medical Center underscores their expertise and commitment to similar projects in the region.

RD Management's ambitious redevelopment project, RITHM, promises to redefine Tampa's Uptown District as a vibrant and multifaceted urban destination, driven by innovation, technology, and community engagement. With JLL's support, the project is poised to meet the evolving needs of the region's health-care and commercial sectors while contributing to its economic growth and vitality.