“The commercial real estate market continues to show signs of recovery with the multifamily sector leading the way and demand for retail and office space gradually increasing,” said Edward Kobel, president and CEO of DeBartolo Development. “The nature of this project, with an existing revenue-producing, multi-tenant office building and an adjacent, highly-prized development parcel, affords us the opportunity to let the market come to us.”

Immediate plans call for completing the Tampa Riverwalk on the vacant portion of the property and tying into the Brorein Street Bridge underpass currently under construction by the City of Tampa. Robert Moreyra, managing principal of Forge Capital Partners and president of Community Reinvestment Partners, said, “This property provides the perfect opportunity to move forward with the vision of what commercial development along the city’s riverfront should be, while contributing to the region’s economic recovery.”