Tobin Real Estate Closes on Paddock Mall Complex in Ocala
August 3, 2022
Hollywood, FL – August 3, 2022 – Tobin Real Estate today announced the closing on the former Sears site at Paddock Mall in Ocala, Fl., acquired by its client BSD Capital, an investment group. Ocala is known as 1 of only 4 thoroughbred horse centers in the world and the mall site has over 3.3 million annual visitors.
Led by Tobin’s Senior Vice President of Real Estate Louie Granteed, the former department store, located on 12.03 acres at 3100 SW College Road, boasts 148,857 square feet and is expected to be redeveloped into a hotel and optimized by the creation of new retail spaces on the exterior frontage, but with interior mall access.This massive redevelopment project will support the business corridor off Southwest 27th Avenue and nearby I-75, as well as the mall and retailers adjacent to the site, which include Belk, Macy’s, JCPenney, and over 90 specialty stores inside the mall.
“The opportunity for BSD Capital to acquire this site creates an opportunity to redevelop the former Sears Big Box and separate outbuilding that operated as the Sears Automotive Center, which will add significant value to the property, mall and surrounding areas,” said Granteed. “The Paddock Mall is the only enclosed mall within 30 miles and attracts visitors and customers from five surrounding counties. BSD Capital will transform the site into a mixed use of retail stores, hotel and additional specialty retail stores with direct access to and from the mall. It’s going to be exciting and an amazing transformation, which will benefit the mall, visitors, and the community.”