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Places This Week: Tyrone Tower office building sells
The Catalyst’s weekly roundup of notable Pinellas County real estate news.
Tyrone Tower, a 72,075 heated square-foot office building at 1700 66th Street N., St. Petersburg, sold Dec. 3 for $8.75 million. It was first listed in February for $11.53 million and dropped to $10.25 million in October. The five-story building was completed in 1981 and is situated on 4.58 acres of land.
The property provides full office suites, 24-hour security, an outdoor seating area, multiple signage opportunities and parking for 260 vehicles.
Eighty-nine percent of the building is occupied with 27 tenants representing a mix of medical and professional services. The property shares access with a Publix-anchored shopping center and is minutes away from Tyrone Square Mall.
Expansive renovations valued at over $2.5 million were made in the last five years, including a new roof, new HVAC systems and controls, new restrooms throughout the building and a remodeled common area.
The seller, Kennedy Investments, a private equity company based in Tampa, had purchased the property in 2018 for $2.85 million. The buyer, Posterity Real Estate Holdings, LLC, is a St. Petersburg private family office whose founder is a wealth advisor and founding partner of North Shore Wealth Management at Raymond James.
The listing was courtesy of Pat Kelly and Anthony Suarez with Franklin Street Tampa. The transaction was brokered by Jason Teabout and Julie Mastry of the Mastry/Teabout Group with Smith & Associates Real Estate.
551 Omaha St., Palm Harbor. Photo: Homes.com.
Palm Harbor multi-residence estate lists
A two-building property with separate residences at 551 Omaha St., Palm Harbor, has listed for sale with an asking price of $999,999. Both structures were built in 1930.
The main home, with three bedrooms and three bathrooms, features 1,736 square feet of living space across two stories. Downstairs is an expansive living room with a wood stove, a separate sitting area, an eat-in kitchen with stainless steel appliances and quartz countertops and a full bathroom. Upstairs are all of the bedrooms, with enough room to sleep eight, and two full bathrooms.
The detached two story, 1,680 square-foot structure offers three bedrooms and two full bathrooms. On the lower level is a theater/media room, a pool bathroom and a private bedroom. On the second level is a living area, a full-size kitchen, two bedrooms and one bathroom.
The backyard features an in-ground pool with a paver deck and a two-hole putt-putt green. The property is situated on a 0.26-acre plot of land in a golf-cart friendly community minutes from downtown Palm Harbor.
All of the furnishings are included with the sale, and a short-term rental license transfers to the buyer.
The seller purchased the property in 2022 for $540,000. The listing is courtesy of Tara Cline with Coastal Luxury Realty.
2435 State Road 580, Clearwater. Photo: Benderson Development.
Bradenton developer purchases Clearwater Shoppes
Benderson Development, LLC, a three-generation privately owned real estate development company based in University Park, Florida, closed Dec. 4 on the purchase of Clearwater Shoppes, a 216,692 square-foot grocery-anchored shopping center with an official address at 2435 State Road 580, Clearwater. The purchase price was $28.5 million.
Situated on a 14.47-acre parcel on the corner of U.S. Highway 19 and Main Street, the fully-leased property, built in 1975 and 1976, is anchored by Whole Foods Market, Target and Nordstrom Rack. It is connected to the 1.3-million-square-foot Countryside Mall.
Sears Roebuck and Co. had purchased the property in 1973 for $200,000. In 2015, it was acquired by Seritage Growth Properties, a New York City real estate investment trust spinoff from Sears Holdings.
Founded in 1949, Benderson Development is one of the largest privately held real estate companies in the nation, with a portfolio of over 1,000 properties across 40 states.
491 Laguna Dr., Tierra Verde. Photo: Realtor.com.
Tierra Verde home sells for $7 million
Listed in July for $7.5 million, a two-story home at 491 Laguna Dr., Tierra Verde sold Dec. 11 for $7 million.
Completed in 2023, the 7,000 gross square-foot residence was designed by Miami-based Sire Design, whose owners are featured on the Netflix series Designing Miami and HGTV’s Divided by Design.
The elevated home sits on a 0.36-acre lot and provides 5,251 square feet of living space across two floors. Inside are five bedrooms, six full bathrooms and one half-bath. An elevator connects the two levels. Attached to the home are two, two-car garages anchored by a 24-foot entrance foyer.
Outdoors is a heated infinity pool, a covered lounge area and 200 feet of waterfrontage. A new seawall was completed in 2020, and a custom dock with a 40,000-pound lift for a 52-foot boat and two Jet Ski lifts was built in 2022.
Highlights include oak plank flooring, impact-resistant windows, a whole-house generator and a full Savant home automation system that controls audio-visual, lighting, security and window treatments.
The seller, represented by Dina Sierra Smith with Smith & Associates Real Estate, purchased the parcel and prior structure in 2021 for $2 million. Melissa Connell with Sparrow Key Realty, Inc. represented the buyer.
12003 28th St N., St. Petersburg. Photo: LoopNet.com.
HSN closes on the sale of two warehouses
Following an announcement in January that it would be ceasing operations at its St. Petersburg’s Gateway area campus, Home Shopping Network (HSN) closed Dec. 1 and 2 on the sale of two industrial warehouse properties in St. Petersburg located at 12003 28th Street N. and 11851 30th Court N., respectively.
12003 28th Street N. sold for $4.465 million to the MIDA Group, a St. Petersburg real estate brokerage firm that has acquired, developed and managed commercial properties in Pinellas County since the 1940s. The property includes a one-story structure with 37,838 heated square feet and a 1,155-square-foot loading platform. Built in 1985, it sits on 2.59 acres of land. Home Shopping Network Realty, Inc. purchased the property in 1986 for $1.5 million.
11851 30th Court N. sold for $5.1 million to B&D Holdings, a privately held investment and development firm based in Warren, New Jersey that owns assets in 37 states. The one-story structure, built in 1988, features 42,750 heated square feet and sits on a 2.67-acre plot of land. HSN Realty, Inc. purchased the property in 1992 for $650,000.
HSN’s former headquarters at 2501 118th Avenue N. was listed in April and remains on the market.
3268 66th Street N., St. Petersburg. Photo: Crexi.com.
Former Women’s Care property for sale
A 4,607 square foot fully built-out medical facility at 3268 66th Street N., St. Petersburg, has entered the market for an unknown price. Built in 1984, the one-story building is situated across two parcels of land totaling 0.65 acres. It was formerly occupied by a Women’s Care group.
Inside are seven exam rooms, two physician’s offices, one manager’s office, a consultation room, a procedure room, four restrooms, a kitchen/break room and a spacious lobby and waiting area.
Outside are 26 spaces for parking, exterior wall signage and monument signage on 66th Street N. The building is fully plumbed for medical uses, vacant and available for immediate occupancy.
The property was purchased by Dr. Molly Long under the registered name Sun, Ski & Spa, LLC in 2010 for $650,000.
The listing is provided by Robert Freeman, James Garner and Jim Shiebler with CBRE – Tampa.
Real estate agents: Please forward all news for Places This Week to Amy Kagan at amy@stpetecatalyst.com. Thanks!
