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Mall Executives See Some Bright Spots

Tribune file photo (2005)

Despite the troubled economy, specialty grocer The Fresh Market expects to open nine stores in the South this year.

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By MICHAEL SASSO

msasso@tampatrib.com

Published: February 4, 2009

TAMPA - Some bright spots punctuated the gallows humor at a convention of shopping center executives today: A few pizza restaurants, dental practices and discount retailers are expanding aggressively in the Tampa Bay area.

Those with plans to grow took the spotlight during the gathering of shopping center owners, retail real estate brokers and retailers at the Grand Hyatt Tampa Bay in Rocky Point. The sponsor was the International Council of Shopping Centers.

Some companies will be new to the Bay area: Red Elephant Pizza and Grill and Anthony's Coal-Fired Pizza, each with leaders who had worked with Tampa-based Outback Steakhouse or its affiliates; and Aspen Dental, based in Syracuse, N.Y.

Also on the expansion list are familiar names: deep-discount grocer Aldi; specialty grocer The Fresh Market, which expects to open nine stores in the South this year; Amscot Financial; TJX Cos., which operates Marshalls and TJ Maxx; and Jimmy John's Gourmet Sandwiches, with three local stores and plans for at least five more.

Speakers tried to put the best spin on the state of an industry that by most measures is struggling as retailers such as Circuit City, Linens 'n Things, Sharper Image and Bennigan's have closed and left massive holes in strip malls.

Shopping centers were being bought and sold like houses a few years ago, but the number of transactions fell by 74 percent in 2008 across the country. In Florida, transactions fell by up to 90 percent in some areas, said Justin Greider, an associate director at Holiday Fenoglio Fowler, which arranges capital financing for such sales.

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

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