Regional mall giant Taubman Centers Inc. said it paid $437 million to gain sole ownership of Tampa's International Plaza. The price, paid to CSAT LP, represents an additional 49.9 percent stake in the upscale shopping mall.
"We are pleased to have an opportunity to increase our ownership interest in International Plaza," Taubman CEO Robert S. Taubman said in a statement. "Since its opening in 2001, International Plaza has become the dominant upscale shopping center in the Tampa market. It's a highly productive asset."
International Plaza is located on the grounds of Tampa International Airport. The 1,202,000-square-foot center opened in September 2001, in the wake of the 9/11 terrorist attacks. It is anchored by Dillard's, Neiman Marcus and Nordstrom.