It’s the beginning of the end for Tampa’s oldest mall.
After years of slumping sales and shuttered stores, a local real estate firm will tear down WestShore Plaza and redevelop the 54-acre site.
Third Lake Partners purchased the aging mall from Ohio-based Washington Prime Group earlier this month for $135 million, according to a deed filed with the Hillsborough County Clerk’s office.
The city approved plans from the mall’s previous owner to rezone the site in 2024, paving the way for a new project with shopping, restaurants office space, apartments, medical offices, recreational facilities, a bus station and more.
Third Lake Partners said it would not make significant changes to those plans. It is partnering with St. Petersburg firm Echelon on the redevelopment.
“WestShore Plaza represents a unique opportunity to reimagine a well-known property into a destination that reflects how people want to live today,” founder and senior managing partner of Third Lake Partners, Robert Forsythe, said in a statement.
WestShore Plaza first opened in 1967. It quickly rose to popularity as the region’s first fully air conditioned indoor mall.
More recently, WestShore Plaza has struggled to keep up with competition both from online shopping platforms as well as newer, flashier retail destinations like nearby International Plaza, Midtown and Hyde Park Village.
In just the past few years, WestShore Plaza has lost several major tenants including Sears, Macy’s and Dick’s Sporting Goods.
In a statement, Third Lake Partners’ managing partner and head of real estate Luke Thomas said his team wants to create a more well-rounded destination that meets the needs of Tampa’s growing population.
“We believe the future of real estate lies in creating thoughtfully designed places that bring together housing, employment, services and entertainment, and WestShore Plaza provides an exceptional opportunity to deliver that vision in one of the region’s most desirable locations.”
It is still unclear when the mall will close its doors for good. No demolition permit has been filed yet.
