OLDSMAR — Developer Grady Pridgen has bought the Oldsmar Flea Market for $11.35 million and says he has plans to turn it into a "world-class gathering space" for the Tampa Bay area.
"It’s right in the center of 3 million people, 75,000 drive by it every day and it has 300,000 square feet of space and 2,000 parking spaces that are under-utilized," Pridgen said Monday. "We’re going to have dining experiences, activities, events, concerts — just make it fun."
To that end, Pridgen said he has enlisted the team that revamped Disney Springs, the shopping, dining and entertainment complex of Disney World.
By Ashley Gurbal Kritzer – Senior Reporter, Tampa Bay Business Journal
An Oldsmar landmark is now in the hands of a St. Petersburg developer.
A corporate entity tied to developer Grady Pridgen has acquired the Oldsmar Flea Market for $11.35 million, Eshenbaugh Land Co. said Wednesday. Eshenbaugh brokers Ryan Sampson and Bill Eshenbaugh represented the seller in the transaction.
The property will continue to operate as a flea market, as it has for more than 30 years. It includes 250,000 square feet of market space home to more than 700 vendors.
STK Capital of Tampa provided $10 million in debt financing for the acquisition.
Pridgen was not immediately available for comment Wednesday.
“At the end of the day, it was obvious that the buyer was truly interested in improving the flea market for both the vendors and shoppers while at the same time demonstrating to the seller a true commitment to getting this deal done from the beginning at the highest price without any hesitation," Sampson said in a statement.
"Some mixed use office, retail, residential, shops and things like that would be a great use for that," Bevis told the TV station. "But, in the end of the day, it depends on what the buyer decides to do with it."