Market Overview

RD Management Acquires the Sears Property at University Mall in Tampa, Florida

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New redevelopment to be rebranded to Uptown

RD
Management LLC
, one of the nation's largest privately held
real-estate development and management organizations, announced today
the acquisition of the Sears
property at University
Mall
in Tampa, Florida, placing the nearly 100-acre retail property
under the control of one owner for the first time since the tract was
originally assembled in the early 1970s. As part of its redevelopment,
RD Management will rebrand and rename University Mall to Uptown.

Sears' retail business will continue to operate on its normal schedule
as the property transforms from a traditional, enclosed mall into a
vibrant mixed-use, city center. When complete, Uptown, an anchor member
of Tampa's
!p
(formerly known as Tampa Innovation Alliance), will be a
multi-story, open-air, development showcasing retail, entertainment,
hospitality, education, medical, office, and residential uses.

"This mall is a vital part of Tampa's commercial corridor. Uptown will
provide shopping experiences that today's retailers seek," said Chris
Bowen, RD Management's Chief Development Strategist for the
redevelopment project. "As we develop Uptown, it is our vision that it
will generate a renaissance of the North Tampa market creating Tampa's
Uptown District."

Located in the northeast quadrant of the Tampa trade area with frontage
on East Fowler Avenue and Club Drive, the 1.3 million-square-foot
shopping center is easily accessible by major highways I-275 and I-75.
Connected by University Square Drive, is just a stone's throw away from
the University of South Florida's main campus with more than 47,000
students and 16,000 faculty and staff members. It's also in close
proximity to major employers such as the H.
Lee Moffitt Cancer Center & Research Institute
, Shriner's
Hospital for Children
, and Busch
Gardens Tampa Bay
. Tenants include Dillard's,
Burlington,
Sears,
Grand's, Studio
Movie Grill
, Portillo's,
and Miller's
Ale House
.

"The acquisition of the Sears property marks a significant milestone in
the transformation of the entire University Mall site," said Roger
Hirschhorn, COO RD Management. "We are excited to include Sears in the
dynamic, mixed-use center we've always envisioned for this extraordinary
community of educators, scientists, caregivers, students, business
people, and hardworking and inspiring neighbors."

University Mall is one of 12 properties owned by RD Management across
Florida, and one of more than 150 properties in its national portfolio.
Those interested in leasing existing space can contact John Morrell at
(813) 971-3466 or jonathon.morrell@cbre.com.
For those interested in leasing space related to the new Uptown
development, please contact Christopher Bowen at (813) 971-3466 or cbowen@RDManagement.com
or David Conn at (813) 273-8440) or david.conn@cbre.com.

About RD Management

Consistently ranked among the nation's largest, privately held
real-estate development and management organizations, RD Management owns
and operates a portfolio of 150+ assets throughout the United States and
Puerto Rico, with properties spanning the mixed-use, retail, office,
residential, hospitality, self-storage, senior/student housing,
industrial, and government sectors. RD Management specializes in
development, redevelopment, and acquisitions in key markets and
maintains in-house expertise in leasing, property management,
construction, accounting and finance, legal, and information technology
services. With more than 40 years of experience, RD Management has a
proven track record of enhancing the value of its properties through
hands-on management, renovation, and expansion. For more information
visit www.rdmanagement.com.

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