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Baywalk In St. Pete To Lose Ann Taylor Store In January

News Channel 8 photo by DAVID KRAUT

Ann Taylor stores had an option in their contract that allows them to move from BayWalk if sales fall below a certain level.

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By MICHAEL SASSO | The Tampa Tribune

Published: December 16, 2008

Ann Taylor will be moving out of St. Petersburg's BayWalk shopping center in January, the center's owner said.

Developer Fred Bullard, who owns BayWalk, said the women's fashion store had a clause in its lease that allowed it to leave the center if the store's sales fell below a certain level.

The store opted to move out next month, although Bullard didn't have a specific date. Ann Taylor officials could not be reached for comment.

BayWalk has defaulted on its mortgage payments to Wells Fargo, which prompted the bank to file a foreclosure lawsuit against one of Bullard's business entities last month.

The bank is seeking a judgment against Bullard for the amount of the outstanding mortgage, about $14.5 million, plus interest and other costs.

Bullard said today he does not intend to pay off the mortgage and expects the bank to reclaim the center.

Reporter Michael Sasso can be reached at (813) 259-7865.

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