Places This Week: Skyway Industrial Park, Flamingo Motel sell
A weekly roundup of local real estate deals.
Skyway Industrial Park sells
AHPS Fredward Holding LLC sold multiple warehouses in the Skyway Industrial Park in an $18.5 million deal to Skyway Realty LLC.
The parcels purchased include 3000 and 3010 22nd Ave. S., and 2200, 2300 and 2230 31st St. S.
The industrial park, built in 1988, totals over 233,000 square feet of industrial space.
The buying LLC is connected to Orlando-based Susquehanna Holdings Ltd., which is affiliated with The Wideman Company LLC, an office real estate acquisition and management group.
Susquehanna Holdings’ portfolio of properties under its management includes Amazon and FedEx warehouses and Class A offices. The group took out a $10.6 million mortgage from Bank United.
The buyer plans to make cosmetic improvements and other needs so that when the majority of the leases expire between 2023 and 2025 the group can increase the rents to market rate pricing, according to a financial news report from Benzinga.
Longstanding motel changes hands
Precision Hotel Management Company has sold the Flamingo Motel property in Clearwater.
The group sold the motel at 1806 N. Fort Harrison Ave. to the Clearwater-based Hethir Hospitality LLC entity in a $3.2 million deal.
The parcels house buildings built in the early- to mid-1940s and ’50s.
The buyer assumed a $1.2 million mortgage loan from the seller.
Boat retailer sells warehouse, storefront
Cycle Springs Powersports, a franchise dealership in Oldsmar, has sold its warehouses.
The retailer, which offers on- and off-road vehicles and recreational watercraft, sold its 5,000-square-foot storefront at 495 Douglas Road E. and its 22,800-square-foot industrial space at 120 Dunbar Ave. in a $3.9 million deal.
The buyer, 4 Landwerks LLC, is connected to Richard Jr. and Peter Dimmitt of the Dimmitt Automotive Group, a family-owned automotive retail group that’s been in business since the early 1920s.
The group assumed a $3.12 million mortgage from the seller.
Tierra Verde estate sells for over $5 million
The waterfront Tierea Verde estate at 1883 Bayview Drive has fetched a $5.765 million sale.
The 4,481-square-foot home is on a 0.77-acre lot with 143 feet of water frontage.
The five-bedroom and five-and-a-half-bathroom home, built in 1995, was recently renovated, according to the listing.
The two-story estate’s main living room has cathedral ceilings, a stone gas fireplace, a custom glass-enclosed wine cellar, a floating staircase that leads to the second level, and two-story windows that showcase the waterfront views.
Outside, the property features an elevated terrace and an outdoor entertainment area with a fire pit and an infinity-edge pool, as well as a dock.
Moriah Taliaferro with Premier Sotheby’s International Realty represented the buyers and the sellers.
The home was listed for $5.925 million. The property last sold in 2018 for $2.9 million.
Mint House to debut next week
The Mint House, a 100-unit studio apartment complex formerly known as The Metro, will open June 1.
Developer DevMar Development sold the complex four months ago to a California LLC in a $28.2 million deal.
The newly constructed complex, located at 77 11th St. N., is an apartment-style hotel with short-term rentals.
It features high-end amenities for guests staying a night or for multiple weeks, such as a resort-style pool, a wellness-focused fitness center, a bicycle rental program and valet parking, according to a news release.
The Mint House brand is known for its proprietary tech, including mobile check-ins and keyless entry, pre-stocked groceries and 24/7 digital concierge services.