A weekly roundup of local real estate deals.
Sweetgreen is coming to the Edge District
The popular Los Angeles-based chain Sweetgreen, known for its made-to-order salads, will open a location in St. Pete.
Sweetgreen has signed a lease at 1114 Central Ave., which is currently housing the Central Arcade and is next to the Bodega restaurant. Plans were also filed in the city, revealing that the chain will open the location with 27 indoor seats and 16 outdoor seats.
The building at 1114 Central Ave. where Central Arcade is located. GoogleMaps.
The news follows Tricera Capital, a Miami-based real estate firm that has made significant investments in downtown St. Petersburg, refinancing the building.
The building had one vacancy.
Scott Sherman, principal at Tricera, told the St. Pete Catalyst the space would be filled by a national restaurant chain, but he could not disclose further details at the time.
Sweetgreen opened in 2007 in Washington, D.C. It currently has 140 locations in the United States. The chain is known for its kale Caesar salad.
Highland Lakes shopping center may have a Publix Supermarket
The Highland Lake shopping center at 33513 U.S. Highway 19 N. in Palm Harbor will have a new grocer.
New York-based RPT Realty (NYSE: RPT) has acquired the shopping center in Palm Harbor in a $15 million deal.
RPT Realty plans to redevelop the vacant Stein Mart box into a grocery store. Stormwater permits showed the planned grocer is Publix Supermarkets.
The Steinmart box at the Highland Lakes shopping plaza. GoogleMaps.
The grocery store will require the addition of a 4,000 square feet of loading dock space at the site.
The new grocer will also increase the occupancy rate to over 95% at the 82,000-square-foot, open-air shopping center.
The other tenants in the building include Famous Footwear, Orangetheory Fitness, Michaels and Hallmark.
Penthouse in downtown St. Pete sells for nearly $6 million
A penthouse at 400 Beach Drive has sold in a $5.95 million deal to the entity Murphy Management LLC.
The nearly 4,000-square-foot penthouse, unit no. 2705, boats cinematic views of the waterfront.
Unit 2705 at 400 Beach Drive. Image: Facebook image from The Best of St. Petersburg page.
The penthouse, built in 2007, features marble flooring and offers three bedrooms, three-and-a-half baths, a grand salon, a den, a library and a family room with a gas fireplace.
“I am so grateful I was able to get you the highest closed sales price in downtown St. Petersburg in over a year,” Jennifer Thayer, a well-known luxury real estate agent with Keller Williams Realty St. Pete, wrote in a Facebook post.
The gourmet chef’s kitchen was completely remodeled two years ago and has Wolf and Subzero appliances, gas range, a wine chiller and a butler’s pantry, according to the listing.
The bathrooms were also remodeled.
The unit features a private two-car garage that recently had an electric vehicle charging station installed.
It also features a new water heater, a new 80-gallon water softener, a new washer and dryer and a hidden safe, the listing read.
Avanti real estate is changing the name of the Artistry St. Pete apartments
Avanti Residential, the new owner of the Artistry St. Pete apartments in St. Petersburg, is changing the name of the complex.
Colorado-based Avanti Residential has scooped up the complex from Indiana-based developer Milhaus in a $92.35 million deal in December.
Artistry St. Pete apartments. GoogleMaps.
Artistry St.Pete, located at 1601 Central Ave. between the Grand Central District and the Edge District, is a mixed-use development that opened in 2020 with 246 apartments and 10,000 square feet of commercial space. It’s known for its art collection.
Avanti Residential Regional Director Jennifer Beebe said the group is changing the name from the Artistry St. Pete to Arte and plans to continue to run it as an apartment complex with retail spaces.
“We plan to lease the currently vacant retail space but we do not anticipate expanding the complex or retail,” she said via email.
Artistry St. Pete’s retail tenants include Mibella Nails Lounge and Spa; Mammamia Gelato Italiano, an Italian gelato shop; and Raining Berries, which serves acai bowls.
Millan Enterprises, a Tennessee-based real estate firm, purchased the Bayview Plaza II property in a $3.1 million deal.
CBRE has arranged the sale of the 16,146-square-foot retail strip center at 11270 4th St. N. in St. Petersburg.
Mark Shellabarger and Ari Ravi of CBRE represented the seller, Sarasota-based ICORR Properties.
The plaza was built in 1985 and partially renovated in 2018. Bayview Plaza II was 83% leased at the time of sale to eight tenants, including Brewers’ Tasting Room, H & R Block, MCI Metro, Critical Hit Games and Thai Wok restaurant, according to a news release.
The property is situated adjacent to the Bayview office building and Bayview Plaza I.
The bidding process opens for a site near Tangerine Plaza
A South Florida-based affordable housing developer has made an unsolicited bid to the City of St. Petersburg to purchase the property across from Tangerine Plaza.
The Green Mills Group, and its partner Advantage Village Academy Inc. (AVA), have offered the city $1 million to purchase or lease a 2.1-acre vacant site at 2100 18th Ave. South.
The group is proposing to build 96 affordable/workforce residential units at the site in a five-story building, according to its bid.
The rendering of a proposed affordable housing development from the Green Mills Group and the Advantage Village Academy Inc. (AVA). Rendering: Green Mills Group/City of St. Petersburg documents.
The total project cost would be roughly $21.87 million, which includes the cost of $227,789 per unit.
“Increasing the city’s stock of affordable and workforce housing is a top administrative priority. The mayor is excited to consider proposals that further this goal. At this point, the unsolicited proposal from Green Mills Group LLC and Advantage Village Academy Inc. has not been approved,” a city spokeswoman said.
Because the offer was not solicited, the city has posted a notice inviting alternative interested parties to submit proposals by 10 a.m. Feb. 16.
After all/any proposals are submitted by the deadline, St. Petersburg Mayor Ken Welch will evaluate them and determine whether to move forward. If a proposal is selected, it would be subject to city council approval, the spokeswoman said.
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