Know
Places This Week: Shopping strips switch hands, local marinas acquired
Local marinas are acquired in a portfolio sale. Shopping strip parcels with tenants including Five Guys and Jollibee are scooped up by a single entity. A Nissan auto dealership switches hands. The founder of Doyle Wealth Management buys a condo unit in a community that has a private island.
Here’s this week’s roundup of local real estate deals:
Tierra Verde Marina is acquired for $17.98M
Charleston, South Carolina-based Port 32 Marinas LLC, a leading owner and developer of Class A coastal marinas, has acquired a handful of local marinas as part of a large portfolio sale.
The portfolio sale was made through a recapitalization of Port 32 and led by New York-based Fireside Investments.
Through the new investment, Tierra Verde Marine LLC, located at 230 Madonna Blvd. in St. Pete, was sold to Port 32 Tierra Verde LLC in a $17.98 million deal, according to county records.
The marina at the Tierra Verde Marina Resort. GoogleMaps.
There are currently no plans to make any changes to the Tierra Verde site. It will continue to operate as a marina, a company spokeswoman said.
Under the recapitalization, Port 32 will own and operate four marinas located in Palm Beach Gardens, Fort Lauderdale and one in Tampa (formerly Tampa Harbour Marina). It also plans to acquire three marinas located in Naples, Marco Island and Cape Coral, which it will acquire from the Walker Marine Group.
Following the completion of the acquisitions, Port 32 will own and operate approximately 4,100 dry and wet slips and over 140,000 square feet of commercial tenant space, according to the company’s announcement.
Retail parcels in Largo and Pinellas Park are scooped up
The Palmetto-based entity 1HAVA LLC has picked up three properties for $4.55 million.
The purchases include a newly constructed 7,000-square-foot shopping strip at 10125 Ulmerton Road in Largo that has tenants including a Five Guys and Wing Stop.
A multi-tenant building at 10125 Ulmerton Road, Largo. Loopnet.
It also includes a roughly 7,000-square-foot shopping strip located at the major intersection of Ulmerton Road and Starkey Road in Largo, at 9040 Ulmerton Road. The out parcel is in a center anchored by a Wal-Mart Neighborhood Market. The out parcel in the purchase includes a Willie Jewell’s Old School Bar-B-Q.
Another purchase includes an 8,400-square-foot shopping strip at 4045 Park Blvd. in Pinellas Park with the Jollibee restaurant as a tenant, according to county records.
The popular Filipino fast-food restaurant Jollibee opened the Pinellas Park location last year. It is the first Jollibee store location in Tampa Bay.
1HAVA LLC also took out a $9 million mortgage with Ameris Bank for the purchases.
Auto dealership sells for $12.8M
BFJ Affiliated Properties of Florida LLC, which is tied to Fuccillo Nissan of Clearwater, has sold the dealership to the Clearwater Automotive Management LLC entity.
The buying entity is linked to James Kehrer of Clearwater Auto Recycling.
Fuccillo Nissan of Clearwater on U.S. 19. GoogleMaps.
The 34,748-square-foot facility was acquired in a $12.8 million deal.
Doyle Wealth Management execs buy a beachfront condo
Bob and Jillian Doyle of St. Pete-based Doyle Wealth Management group have purchased a condo unit at 795 Collany Road in Tierra Verde for $2.895 million.
The Sunset Pointe condo complex at 795 Collany Road. Loopnet.
Doyle is the founder of St. Pete-based Doyle Wealth Management group where both he works alongside his wife, Jillian.
The 2,852-square-foot unit purchased is in the gated beachfront community is located on the Gulf of Mexico on a deed-restricted, 18-acre private island.
Beach Theater is sold
The Beach Theatre – the only movie house on St. Pete Beach – was sold on Aug. 11 to Scott Commercial Holdings LLC.
The 4,800-square-foot theater at 315 Corey Ave. sold for $652,000, according to county property records.
Legal and intra-family complications kept the building off the market for nine years.
