Investment firm purchases Ford’s Garage retail space downtown

Miami-based real estate investment firm Torose Equities has acquired prime commercial real estate in rapidly developing downtown St. Petersburg.

Founder Scott Sherman told the Catalyst that his firm purchased the 9,700-square-foot space at 200 1st Ave. S. for $6.125 million. Nostalgic burger and beer joint Ford’s Garage anchors the property.

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A St. Pete paradox? Gains, losses define the economy

A sharp decline in St. Petersburg’s workforce mirrors the precipitous drop in job creation. However, property tax and new construction values continue to soar.

Revitalization efforts in historically underserved South St. Petersburg have paid dividends, while unemployment remains low, despite a slight uptick. The Tampa Bay Rays are no longer among the city’s top employers, and the long-term effects of an unprecedented hurricane season remain unknown.

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