RD Management Initiates $2.2 Million Renovation of Shady Oaks Shopping Center
Enhancements to improve overall aesthetic and customer experience at Ocala, Florida property
NEW YORK—RD Management LLC, one of the nation’s largest privately held real estate development and management organizations announced today that construction is underway at Shady Oaks Shopping Center in Ocala, Florida. The redevelopment of the property, which is owned by RD Management and leased exclusively through Front Street Commercial Real Estate Group, will total $2.2 million and is scheduled to be completed by spring 2016.
Shady Oaks is a 240,419-square-foot shopping center located at 2401-2499 SW 27th Avenue and College Road in Ocala. Redevelopment of the property includes façade enhancements, improved parking lot configuration with additional parking spaces, and new tenant renovations. The center currently offers superior visibility in one of the highest traffic trade areas in Marion County and is home to such anchor tenants as Best Buy, Burlington Coat Factory, Staples, and Jo-Ann Fabrics.
“Although Shady Oaks is already one of Ocala’s busiest shopping centers, we wanted to continue to improve the shopping experience,” said Rick Birdoff, principal and president of RD Management. “By creating a more navigable property and attracting potential tenants with updated retail space, Shady Oaks will continue to be a destination center.”
Also commenting on the news, Nick Robinson, director of Front Street’s Ocala office, said, “We’re excited to be a part of the redevelopment efforts at Shady Oaks and are encouraged by the tenant activity so far. The updates to this center will facilitate our efforts in securing new tenants to add to the already impressive lineup, making Shady Oaks one of the most dynamic and exciting shopping destinations in Ocala.”
The Shady Oaks Shopping Center is one of six properties owned by RD Management across Florida, and one of more than 200 properties in its national portfolio. Other Florida properties RD Management has acquired, developed, and/or redeveloped include: Groves Shopping Center in Lakeland; Merchants Crossing in North Fort Myers; Sanford Centre in Sanford; and University Mall in Tampa.
About RD Management
Specializing in the retail sector for more than 40 years, RD Management owns and operates more than 18 million square feet of neighborhood and community shopping centers throughout the United States and Puerto Rico. With a portfolio of 200+ properties, RD Management is consistently ranked among the nation’s largest, privately held, real-estate development and management organizations. RD Management maintains in-house expertise in leasing, property management, construction and development, accounting and finance, legal and information technology services. For more information visit www.rdmanagement.com
About Front Street
Front Street Commercial Real Estate Group is a leader in the Central and North Central Florida commercial real estate business. The company’s mission is to impact its community, clients and industry by doing commercial real estate differently. Front Street is committed to leadership in the commercial real estate business by offering superior brokerage, commercial mortgage banking and property management solutions to its commercial real estate clients. For more information please visit www.FrontStreet.net or contact Nick Banks at firstname.lastname@example.org.