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Places This Week: Former Raytheon Technologies St. Pete property sells, apartments on Central are acquired

Veronica Brezina

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Icon Central

The property of the former Raytheon Technologies sells in St. Pete. The Icon Central, a luxury apartment complex, is acquired for $149.6 million. Retail strips that have tenants such as Culver’s, Tijuana Flats and Einstein Bagel Bros. are scooped up. An owner of a construction firm sells his home he built. 

Here’s this week’s roundup of local real estate deals: 

 

The former Raytheon Technologies property sells in St.Pete for $10.5 million 

The site used by Raytheon Technologies, known for its work in the military, aerospace and defense industry, has sold. 

The seller St. Petes LLC, a St. Louis-based development company, sold the 29-acre property in the $10.5 million deal to Raytheon Porter Holdings LLC, a buying group led by Porter Development. 

St. Pete-based Vector Commercial Real Estate Services represented the seller.

The site formally housed a 5,360-square-foot building on 7167 13th Ave. N. 

7167 13th Ave. N., St. Pete. GoogleMaps. The former building. 

Raytheon did not provide further comments on the purchase. 

Clearwater-based developer Porter Development LLC was planning to redevelop a vacant site of Raytheon’s on 72nd St. N. into a 150,000 square-foot sports center, directly southwest of Tyrone Square Mall. 
 
Les Porter, president of Porter Development, previously told the St. Pete Catalyst that he plans to buy the former Raytheon property at 72nd and then reassess development options. 

Raytheon currently has its network centric systems operations in Largo at 7887 Bryan Dairy Rd.

Last year, Raytheon was awarded a $117.5 million contract modification by the U.S. Air Force to manufacture communication equipment for nuclear-armed bomber planes. The work for the project is taking place in Largo. 

 

Icon Central apartment complex sells in a staggering $149.6M deal 

The 15-story, 368-unit Icon Central complex at 855 Central Ave. has sold in a nearly $150 million deal. 

The ICON Central Building. Google Maps.

Camden Central LLC, the Camden Property Trust purchased the luxury apartment complex. 

Read more about the sale here. 

The Camden Property Trust is the same owner of the 357-unit Camden Pier District, which is planning an expansion that will add an 18-story, 95-unit tower to the complex at 330 3rd Street South.

The Icon Central complex was completed in 2019 by Miami-based firm The Related Group for a project cost of roughly $80 million.

The sale follows a recent purchase from Tricera Capital, a Miami-based firm that has invested in downtown St. Petersburg and Sarasota.

Last month, Tricera Capital paid $11.1 million for the 15,000 square feet of ground-floor retail space and the adjacent Union Trust Bank Building.

 

Culver’s property is scooped up

A Culver’s restaurant in Pinellas Park is sold to a St. Pete-based entity tied to James Swan. 

The entity Custard Queens Inc. paid $1.6 million for the property at 4702 Park Blvd. in Pinellas Park. 

The Culver’s at 4702 Park Blvd. in Pinellas Park. GoogleMaps.

The company also took out a $2.4 million mortgage from First Farmers Bank and Trust for the purchase. 

The midwestern franchise Culver’s is known for its local “butter burgers” and frozen custard.  

 

Owner of a local construction firm sells home he built 

Chad Lubke has sold his Redington Shores home for $2.8 million. 

The home at 206 Sydney Lane. Realtor.com.

The 4,547-square-foot home at 206 Sydney Lane was bought by Greenshift Land Trust. 

This coastal contemporary home was built by Lubke Construction and is the current personal home of the owner of the local construction company.

The home at 206 Sydney Lane. Realtor.com.

The five-bedroom, four-bathroom home was built in 2019 and is located in the only new construction guarded and gated waterfront community on the beach, according to its description.

The home has a pool featuring a bridge over the pool that leads to a 20,000-pound boat lift. It has impact windows and doors, elevated concrete balconies, to the separately conditioned custom built-in wine cellar and Wolf and Sub Zero appliances. 

The office inside of the home at 206 Sydney Lane. Realtor.com.

 

Retail strip with Tijuana Flats sells for $4.376 million

A 6,373-square-foot retail strip on 2849 Gulf to Bay Blvd. in Clearwater has a new owner. 

GTB Retail LLC sold the retail space to Frantine Commerical Real Estate LLC in a $4.376 million deal. 

The strip is fully leased with tenants including Tijuana Flats and Einstein Bros. Bagels.

The retail strip at 2849 Gulf to Bay Blvd. Loopnet.

The asking price was roughly $4.45 million, or $698 per square foot, for the strip that was built in 2018.  

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