A weekly roundup of local real estate deals.
Tampa Bay Automobile Museum buys additional property
The Tampa Bay Automobile Museum has bought additional property in the Gateway Centre Business Park.
The museum has purchased vacant industrial land near its existing property at 3301 Gateway Centre Blvd. in Pinellas Park, where it features a collection of vintage cars with a focus on the 1920s and 1930s in an 18,000-square-foot gallery space.
The museum purchased the vacant land under the entity name Ploypack Limited Partnership in a roughly $2 million deal from Texas-based Huntley Properties and Landholdings LLC.
The Polypack entity is connected to Alain Cerf, owner of Polypack, a business located next door. Polypack, which began outside of Paris, is a manufacturer of automatic packaging machinery. The museum houses its collection.
An exact address for the 8-acre property was not found in property records.
The entity took out a $5.3 million mortgage from Bank of America.
According to an anonymous source with knowledge of the deal, the additional property is likely an expansion of the museum.
The Whitney Hotel sells
Clearwater-based TJM Properties has sold the Whitney Hotel to the St. Pete-based Coastal Properties Group International.
The group purchased the property at 241 3rd St. N in St. Petersburg for $1.5 million.
The 7,028-square-foot hotel was built in 1925.
Firm scoops up Clearwater apartments as part of $112 million acquisition
Privately-held real estate investment firm 29th Street Capital (29SC) announced it has acquired Henley Tampa Palms and Enclave at Northwood, apartment communities totaling 503 units in Tampa and Clearwater, for the total sale price of $112 million.
Henley Tampa Palms is a 315-unit property located in the Tampa Palms master-planned community. Enclave at Northwood is a 188-unit, 1984-vintage property, located in Clearwater’s Northwood neighborhood.
The Chicago-based firm plans to renovate the unit interiors, adding upgraded countertops, stainless steel appliances, modern backsplashes, new flooring, updated lighting and in-unit washer/dryers. The firm also plans to improve the clubhouse, amenities and curb appeal at both assets, according to its announcement.
29SC’s in-house property management group, Haven Residential, will oversee the management and leasing for both communities.
1980s home gets a massive makeover, is on the market for $5.9 million
A 6,132-square-foot estate in the exclusive Snell Isle community is pending a sale after undergoing a complete renovation.
The home at 1365 Brightwaters Blvd. NE. was built in 1983 and has five bedrooms and five full bathrooms.
Jim Dimartino, a broker with New York-based Douglas Elliman Real Estate, said the current owners, Corey and Regena Hampson, renovated the estate with the intent to list it.
Corey Hampson runs the Hampson Gallery in downtown St. Pete.
The duo purchased the property in 2019 for roughly $2.1 million.
The asking price is $5.9 million.
The home features multiple entertaining areas with views of the water, a new spacious custom chef’s kitchen with luxury appliances and finishes, a custom glass-enclosed wine room, office, and a full downstairs entertainment area with a wet bar and private guest quarters.
Outside, there’s a pool and a large deck.
Corner lot on Gandy Boulevard has a new owner
St. Pete-based Anderson Ventures Inc. has sold vacant commercial land for roughly $6.6 million.
The property at 3660 Gandy Blvd. in Pinellas Park is a corner of land in a major retail hub directly across from the Shoppes at Park Place.
The land was sold to North Carolina-based Bayrock Investment Co. LLC, according to county property records.
The entity also took out a $4.5 million mortgage from Protective Life Insurance Company.
Last year, Bayrock sold two retail properties in the popular St. Armands Circle shopping area in Sarasota.
Chicago real estate firm acquires Walgreens storefront
A Walgreens in Tarpon Springs has been acquired for $4.83 million.
Chicago-based Oak Street Real Estate Capital purchased the 14,440-square-foot Walgreens in the deal.
Typically, when real estate groups purchase Walgreens or similar storefronts, it is part of a portfolio acquisition.