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Places This Week: Amazon station in Pinellas Park sells; Details on City Furniture warehouse
A weekly roundup of local real estate deals.
Amazon delivery station in Pinellas Park is purchased
Atlanta-based Stonemont Financial Group has purchased the 100,000-square-foot warehouse in Pinellas Park that Amazon uses for a delivery station.
Stonemont purchased the warehouse at 3201 Gateway Centre Parkway in a roughly $28.55 million deal from Orlando-based Tavistock Development Company.
Stonemont, which has a history of purchasing warehouse locations that are used by Amazon, took out a roughly $18.87 million loan from Goldman Sachs Bank for the purchase.
An image of the site when it was undergoing construction for a 100,000-square-foot warehouse, where an Amazon delivery station would eventually be located. GoogleMaps.
Tavistock acquired the 12-acre site at Gateway Centre for $2.825 million and worked with Atlanta-based general contractor Choate Construction on building the 100,000-square-foot facility.
The property is across from a FedEx Corp. warehouse.
Amazon has another delivery station in Pinellas Park, also owned by Stonemont.
Earlier this year, Stonemont purchased a 90,000-square-foot property at 6101 45th St. N. from Gulfcoast Financial Partners. The next day, Stonemont bought three adjacent buildings totaling 120,000 square feet from Park Industrial Properties.
The site at 6101 45th St. N. was recently revealed to become the home of a 40,000-square-foot delivery station for Amazon to serve as a terminus for Amazon’s last-mile consumer deliveries.
City Furniture to build a massive warehouse in Largo
City Furniture’s initial plans of building a warehouse in Largo have expanded.
A year ago, City Furniture, a home furniture retailer headquartered in South Florida, bought land in Largo for what would be its first store in the St. Petersburg area.
The site plans for City Furniture in Largo. Southwest Florida Water Management District documents.
The company paid $7 million for three parcels of land at 16915 U.S. Highway 19 N. and 16991 U.S. Highway 19 N. that was used by Crown Automotive.
The initial plans showed a 120,000-square-foot warehouse; however, stormwater permits revealed a much large footprint.
According to the permits, City Furniture would demolish the former Crown Automotive building and construct a 160,000-square-foot building. The “proposed improvements consist of one, two-story furniture sales building,” according to the public documents.
The permitting process is expected to take six months or longer and the site has not been cleared.
City Furniture is working with Clearwater-based Gulf Coast Consulting Inc. on the project.
City Furniture has been growing its presence in the Tampa Bay market. The company is currently constructing a $100 million facility on 111 acres in Plant City.
The 1.2 million-square-foot facility in Plant City is slated to be completed in July 2022 and would create 500 new jobs, according to a news release from the company. It will serve as the regional corporate office.
The Kolter Group closes on 200 Central property
The Kolter Group has officially purchased the property at 200 Central where it plans to build a 42-story condo tower.
Last week, the group purchased the 0.4-acre parking lot site in a $20.45 million from Third Lake Capital. The deed for the closure hit the property records this week.
A rendering of the Kolter’s new condo tower at 200 Central Avenue. City of St. Pete documents/ SB Architects.
The Kolter Group took out a mortgage from Regions Bank for roughly $13.3 million.
The Kolter Group, which is the same developer behind the ONE St. Petersburg condominium building and Saltaire St. Petersburg, recently created a landing page for its planned new downtown condo tower.
The landing page unveiled the name of the tower at 200 Central Ave. will be called the Art House. It will offer two- and three-bedroom units. Initially, the project was reported to be 41 stories high; however, the new landing page indicates it will be 42 stories.
The development will have a total of roughly 250 residential units, 6,100 square feet of commercial space and a 482-space parking garage, according to the latest plans.
Construction is expected to start in the fourth quarter of next year.
St. Pete Housing Authority purchases shuttered hospital
The St. Pete Housing Authority has purchased the 121,952-square-foot building at 2331 9th Ave. N., the former site of the Edward White Hospital.
The former site of the Edward White Hospital. GoogleMaps.
The authority purchased the former hospital building in a $5.1 million deal from St. Pete Senior Care LLC, which is tied to developer Grady Pridgen.
The authority took out a $4.1 million loan from Valley National Bank for the purchase.
HCA’s West Florida division closed the hospital several years ago due to declining revenues and low occupancy rates. Pridgen bought the property from HCA for $2.7 million.
He initially submitted plans for remodeling the 1976 hospital by expanding the north side for assisted living and memory care services.
Kriseman selects Dynasty’s proposal to purchase and develop a downtown lot
St. Petersburg Mayor Rick Kriseman has accepted Dynasty’s proposal to purchase the city-owned site at 910 2nd Ave. South and develop Class A offices and workforce housing.
A rendering of Dynasty’s proposed mixed-use development for 910 2nd Ave. South. Image: Dynasty Financial Partners/City of St. Petersburg documents.
St. Petersburg-based wealth management firm Dynasty was one of seven development teams vying to purchase the lot, used as parking for the Tampa Bay Rays, and transform it into a live-work development. Under Dynasty’s plans, the new Class A offices would house Dynasty’s new HQ and potentially the new HQ for Cathie Wood’s ARK Invest firm.
“We were proud they [Dynasty and ARK Invest] chose to relocate their HQ to St. Petersburg and we want them to stay in our community,” Kriseman told the St. Pete Catalyst. “The difference between Dynasty’s proposal and the others proposing to build residential and office spaces is we know what is going to be in Dynasty’s building. With the others, there is a risk of it not getting built and is speculative.”
Dynasty’s proposal states the firm would offer the city $6.25 million to purchase the site. It intends to build 60,000-90,000 square feet of Class A office space; 400 residential units that will include a combination of workforce housing; and an innovation and recruiting hub among other components.
Read the exclusive story here.
St. Pete resident is accepting Bitcoin as payment for home sale
The homeowners of the residential property around the Old Southeast neighborhood are accepting Bitcoin as a potential payment method.
The property at 2235 Florida Ave. S. GoogleMaps.
The 862-square-foot home at 2235 Florida Ave. S. in St. Petersburg is listed with an asking price of $499,000.
The home is listed by Kyle Myslakowski with Compass Florida LLC, who is also listed as one of the homeowners in Pinellas County property records.
The Southeast cottage, built in 1927, is operating as a turn-key duplex with two single-family homes on the same lot. The cottage is rented for $1,435 a month and is currently being rented by a user through Jan. 31, 2022. There is also an in-law suite on the property that is being rented for $810 through the same date, according to the listing.
The home can be purchased as an owner-occupant.
Seminole school purchases YMCA Clearwater facility
Learning Independence for Tomorrow, or LiFT, a Seminole-based school for children and adults with intellectual disabilities, has purchased the YMCA Clearwater facility that is set to close.
The YMCA facility in Clearwater. GoogleMaps.
The Clearwater YMCA at 1005 S Highland Ave. has served the community for over 50 years. LiFT purchased the facility in a $3.8 million deal that will allow it to expand its reach.
With the purchase, LiFT will expand from its Seminole location into the current Clearwater YMCA facility. The 58,808-square-foot facility will allow the school to meet its goal of doubling capacity to serve 350-400 students within the next four years.
The new LiFT campus is expected to open for students in the fall of 2022.
Meanwhile, the Clearwater YMCA will temporarily move services to other locations with the intent to build “a brand new, state-of-the-art facility.”
