New Owner Plans Expansion, Overhaul at Jackson's Bistro Complex

Home , Downtown Tampa

New owner plans expansion, overhaul at Jackson’s Bistro complex | TBO.com, The Tampa Tribune and The Tampa Times 9/3/14, 2:09 PM

Safari Power Saver Click to Start Flash Plug-in

Wednesday, Sep Subscribe Manage my account E-Paper Advertise Contact Us Services 03, 2014 AUTOS Search... 88° HOMES JOBS

Connect with TBO

LOCAL NEWS US & WORLD THINGS TO DO WEATHER SPORTS HEALTH & FITNESS DEALS & SHOPPING

Safari Power Saver Click to Start Flash Plug-in

BUSINESS NEWS

4 6 0

G+ Safari Power Saver Click to Start Flash Plug-in New owner plans expansion, overhaul at Jackson’s Bistro complex

Liberty Group and Convergent Capital bought the property containing Jackson's Bistro for $7.5 million. Now they plan to invest in a major overhaul. CHRIS URSO/STAFF Business Calendar By Richard Mullins | Tribune Staff Here are some upcoming Published: September 3, 2014 | Updated: September 3, 2014 events, meetings and items of at 01:31 PM interest around the Tampa Bay area business community. The complex that houses Jackson’s Bistro will likely look vastly different in http://tbo.com/news/business/new-owner-plans-expansion-overhaul-at-jacksons-bistro-complex-20140903/ Page 1 of 4 New owner plans expansion, overhaul at Jackson’s Bistro complex | TBO.com, The Tampa Tribune and The Tampa Times 9/3/14, 2:09 PM

the coming years, as the new owners plan a major overhaul and expansion of the site on Harbour Island. Tweets Follow

Tampa-based developers Liberty Group and Convergent Capital bought the Rich Mullins 2h property Wednesday for $7.5 million, but plan to invest another $10 million @DailyDeadline Hmmm, perhaps "Amalie Oil Forum," or the "Times in partnership with private equity giant Blackstone and the Tampa Memorial Helipad/Beer Garden." shar.es/114ZRs development firm Highwoods.

The site will likely have one if not two more major restaurants on site, said Rich Mullins 4h Santosh Govindaraju, chief executive of Convergent Capital. Jackson’s has a @DailyDeadline long-term lease on its space, and that restaurant plans to continue operating. Funny how things work. Note RT from @punitrshah. Liberty/Convergent buying Jackson's Bistro complex, to be landlord. shar.es/11hzG1 “We want to increase the activity along the waterfront by reactivating the Expand marina at Jackson’s,” Govindaraju said. “When you look at the opening of Ulele and our Aloft hotel, there’s an opportunity to take a boat out, have Rich Mullins 7h @DailyDeadline drinks at one and dinner at another.” Who's buying the Jackson's Bistro site? Well, At the same time, the developers plan to add more destination retailers to the remember the Liberty/Convergent pair from the @AloftTammpa. shar.es/11hzG1 complex, known as Knights Point at the northern tip of Harbour Island. Expand

The complex sits at 601 S. Harbour Island Blvd. at the northwest corner of Rich Mullins 22h Harbour Island, where a bridge from downtown Tampa meets the island. @DailyDeadline Wilder Corp. was selling the complex through a two-part deal totaling $46.5 ALERT: Authorities investigating last remaining retailer not suﬀering data breach. ....wait, million. The first part involved Wilder selling the Westin Harbour Island nevermind. hotel property to the New York-based private equity giant Blackstone for $39 Expand million. On the same day, Wilder sold the Jackson’s parcel to Rich Mullins 31 Aug Liberty/Convergent for $7.5 million. @DailyDeadline Yes, I did (almost) a whole biz article in Dr. Seuss ❖ ❖ ❖ style. A new @Costco v. @Walmart, how neighbors Blackstone officials confirmed they have a deal in place, but did not confirm Tweet to @DailyDeadline their purchase price.

The Liberty and Convergent pair have been increasingly active in local MORTGAGE CDs Auto Home Equity RATE +/- LAST WEEK development circles, and they haven’t shied away from a fight when they pick 30 yr fixed mtg 4.19% 4.23% a site they wish to control. 15 yr fixed mtg 3.18% 3.23% 30 yr fixed jumbo mtg 4.54% 4.50% The pair recently opened the new Aloft hotel in the former Mercantile Bank 5/1 ARM 3.34% 3.45% building at the corner of Ashley Drive and Kennedy Boulevard, and they’ve 7/1 ARM 3.52% 3.67% acquired a string of other hotels around the country. At one point several RATE +/- LAST WEEK MMA 0.36% 0.36% years ago, they also targeted the Channelside Bay Plaza retail and shopping 6 month CD 0.32% 0.34% center, though the landowner, Port Tampa Bay, contested that deal. 1 yr CD 0.65% 0.66% 3 yr CD 0.90% 0.91% At one point last year, the dispute between the Port and Liberty/Convergent 5 yr CD 1.35% 1.34% became so personally contentious that the Port broke off negotiations. RATE +/- LAST WEEK Eventually, the Channelside matter landed in a federal bankruptcy court that 48 month new car loan 3.22% 3.21%

saw personal appearances on the witness stand by Punit Shah, chief executive 60 month new car loan 3.24% 3.23% officer of Liberty Group, and Santosh Govindaraju, portfolio manager and 36 month used car loan 3.47% 3.47% CEO of Convergent Capital. 48 month used car loan 2.98% 2.98%

In July, all sides of the Channelside fight signed a settlement, helped in part RATE +/- LAST WEEK by Vinik making an undisclosed payment to Liberty and Convergent for their $30K HELOC 4.28% 4.36% development plans. That opened the way for Vinik to move along with his $50K HELOC 4.03% 4.06% plans to remake the broader neighborhood. $75K HELOC 3.97% 3.99% $30K home equity loan 5.07% 5.08% ❖ ❖ ❖ $50K home equity loan 4.51% 4.51% Powered by Interest.com Wilder originally bought the overall Harbour Island set of parcels in 2005 for a total of about $32.8 million.

Despite Tampa’s vast waterfront space, Jackson’s remains one of the few waterfront restaurants in the area, though that’s gradually changing. The Gonzmart-family backed Ulele restaurant opened in August on the http://tbo.com/news/business/new-owner-plans-expansion-overhaul-at-jacksons-bistro-complex-20140903/ Page 2 of 4 New owner plans expansion, overhaul at Jackson’s Bistro complex | TBO.com, The Tampa Tribune and The Tampa Times 9/3/14, 2:09 PM

Hillsborough River. The Sail Pavilion adjacent to the Tampa Convention Safari Power Saver Center has turned into a popular spot, particularly during conventions. The Click to Start Flash Plug-in Getaway beach bar/restaurant opened last autumn on the south side of the Gandy Boulevard causeway, adjacent to so-called “Beer Can Beach.”

As construction on the Riverwalk finishes through downtown, many restaurant and development observers expect a few more waterside spaces to open up.

As for the Westin hotel, Blackstone already held the lease on the hotel and managed the day-to-day operations, said Managing Director Glenn Alba, and Blackstone has no plans to dramatically change operations or switch brands of the hotel. “This is purely a real estate transaction,” Alba said. “We had the opportunity, and since we’re already the operator of the hotel, this was a way to consolidate our ownership. We’re pleased with the market and the Business

performance of the hotel.” New owner plans expansion, overhaul at Jackson’s Bistro complex [email protected] Vinik plans major business announcement at Forum

(813) 259-7919 Seaway Plastics Engineering named top manufacturer at PEDC banquet Twitter: @DailyDeadline CVS stops tobacco sales early, changes corporate Subscribe to The Tampa Tribune name Jackson’s Bistro complex to change ownership today 4 6 0 Gulf Boulevard hotels give tourists tips on crossing G+ dangerous street

Safari Power Saver From the Web Sponsored Links by Taboola Click to Start Flash Plug-in New Policy - If You Drive 50 mi/day or Less You Better Read This... CarInsure

5 Signs You'll Get Cancer Newsmax

Top 10 Athletes Turned Actors of All Time Rant Sports

18 Celebrity Hairstyles We Hope To NEVER See Again Refinery29

Buffett Helps LeBron Turn $300 Million Into $63 Billion The Motley Fool

10 Trends Men Hate Answers

More From the Web More From TBO Promoted Links

Buffett Helps LeBron Turn $300 Million Into Vinik plans major business announcement at $63 Billion (The Motley Fool) Forum

Thinking of Selling Your Home? Get Rid of Jackson’s Bistro bought buy Liberty Group and Jihadists Steal Commercial Jets Granite (Reviewed.com) Convergent Capital, seller says Watch Latest ISIS Threat: DIRECTV 349, DISH 14 Social Security Benefits You Haven’t Been Brooksville rampage victims were shot in head, 223 Taking (Newsmax) neck, autopsies reveal Ex-CIA Agent: ISIS Entered US Via Mexico

http://tbo.com/news/business/new-owner-plans-expansion-overhaul-at-jacksons-bistro-complex-20140903/ Page 3 of 4 New owner plans expansion, overhaul at Jackson’s Bistro complex | TBO.com, The Tampa Tribune and The Tampa Times 9/3/14, 2:09 PM

Why You No Longer Need A Human Financial Vigil at UCF tonight for journalist beheaded by Poll: Majority Want Redskins to Keep Name Advisor (PCMag) militants Assess Your Heart Attack Risk in Minutes

Little Known Way To Pay Down Your Mortgage Detroit-area man gets 17 years for shooting Probiotic Fat Burner Arrives at GNC unarmed woman on porch (LendingTree) Neuropathy Solution Surprises Doctors The 3 Worst Things that Age You Faster Official: Slain journalist Sotloff was Israeli New Supplement Boosts Muscle Growth 600% (AVOID) (MAX Health & Nutrition) citizen What's This? by Taboola Comments

Add a comment...

Also post on Facebook Posting as Punit Shah (Change) Comment

Facebook social plugin

Trending Now

Vinik plans major business announcement at Forum Police: St. Pete homeowner holds burglar at gunpoint Garth Brooks announces first Florida concerts in 17 years Lake County man sues Pasco sheriff over DUI arrest Armwood High on lockdown after student found with knife Video shows profane Morgan urging vote on pot measure

Email / Text Subscription About us Affiliates

Email newsletters Manage account Member agreement/ Business Showcase Text alerts Subscribe Privacy statement St. Petersburg Tribune Tampa Media Group Credit Contact Us Vacation stop Centro Tampa Deliver the paper Terms and Conditions Clearwater Gazette Advertising info Jobs More Info Suncoast News Place an ad online Social Hernando Today Letters Archives Highlands Today News tips Historic archive Facebook Circulation Legal notices Twitter Corrections Pinterest Google+

http://tbo.com/news/business/new-owner-plans-expansion-overhaul-at-jacksons-bistro-complex-20140903/ Page 4 of 4