Connect with us

Know

Tricera puts a fresh face on an historic Central Avenue building

Margie Manning

Published

on

Tricera completed an extensive renovation of the 1110 Central Ave. building in the EDGE District.

Tricera Capital has completed an extensive renovation of 1110 Central Ave., a historic commercial building in the EDGE District.

The company freshened the building’s exterior and did a gut renovation of the two upper floors, creating nearly 8,000 square feet of modern office space with open floor plans. Those top two floors, which can be customized for tenant buildouts, are now available for lease, the company said. Full-floor tenants also have the opportunity to secure prominent signage in multiple locations on the building.

There’s nearly 8,000 square feet of office space with open floor plans on the upper floors at 1110 Central Ave.

There’s been speculation about the future of commercial real estate office space as more employees work from home during the Covid-19 pandemic. But Scott Sherman, Tricera co-founder and managing principal, said the renovated 1110 Central Ave. building is positioned perfectly for the post-Covid era.

“Companies are increasingly looking to occupy full-floor office spaces with their own bathrooms and common areas to limit exposure to others. The building, with two entire floors available to be leased individually, is a great fit for a broad range of creative and entrepreneurial tenants,” Sherman said.

Tricera said the 1110 Central Ave. building is a great fit for creative and entrepreneurial tenants.

Tricera bought the property in October 2018 for $4.5 million, according to Pinellas County property appraiser’s records. The company spent at least $570,300 in updates, based on permits filed with the city of St. Petersburg.

Tricera, a Miami-based real estate investment firm, has a portfolio of more than 10 properties in downtown St. Petersburg. The company considers downtown St. Petersburg as a market with untapped potential. It identified several underperforming assets prior to entering the market and moved quickly to acquire and reposition the properties, attracting quality tenants and driving rent growth.

“Downtown St. Petersburg is experiencing tremendous office growth, fueled by increased residential density and out-of-town companies relocating their corporate headquarters from New York and other markets,” said Ben Mandell, Tricera cofounder and managing principal.

Tricera’s Justin Lustig is overseeing leasing at the 1110 Central Ave. building. He can be reached at justin@triceracap.com

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

By posting a comment, I have read, understand and agree to the Posting Guidelines.

The St. Pete Catalyst

The Catalyst honors its name by aggregating & curating the sparks that propel the St Pete engine.  It is a modern news platform, powered by community sourced content and augmented with directed coverage.  Bring your news, your perspective and your spark to the St Pete Catalyst and take your seat at the table.

Email us: spark@stpetecatalyst.com

Subscribe for Free

Share with friend

Enter the details of the person you want to share this article with.