Lantower Largo HWY 19 Tampa LP, a company associated with a Dallas-based multi-family developer, has bought a vacant eight-acre parcel in Largo for $6 million. The property, on U.S. Highway 19 just south of Whitney Road, sold for $800,000 over the asking price after the city of Largo proposed an increase in density for the area, according to a news release from Colliers International. The Gerlach Team, which includes John Gerlach, Mackenzie Gerlach, Jake Gerlach and Cyndi Cushman, represented the seller, Wilder, LLC. Bill Eshenbaugh of Eshenbaugh Land Company represented the buyer. The property is zoned for general commercial use, and the buyer hasn't disclosed plans for the property. However, the buyer shares a corporate address with Lantower Luxury Living, the property management division of Lantower Residential and with a portfolio of more than 7,500 apartments located in eight cities across Texas, Florida and North Carolina.
Jeffrey Jew, an alumnus of Bravo's "Top Chef," has unveiled plans for his first solo project. Named Lingr, the restaurant will be an upscale-casual eatery and bar at 400 6th St. S. in St. Petersburg. It's expected to open in the spring of 2020. The 150-seat restaurant and outdoor garden area will feature Nordic and Asian-inspired cuisine, representing Jew's love of the local area, his heritage and years of culinary experience, according to the website. Jew most recently was executive chef at 2B Hospitality, which operates Bella Brava and Stillwaters Tavern in St. Petersburg.
Seventeen local small businesses will have a spot at the Pier Marketplace on the new St. Pete Pier. The vendors will occupy 10 market-style tents and seven stalls in a solar panel covered promenade near the Pier's entrance just off Bayshore Drive. The businesses will have short-term leases and may rotate during the course of a year. The Marketplace initially will be open Fridays, Saturdays and Sundays from 10 a.m. until 6 p.m. with extended hours of operation possible for special events. See a list of the vendors here.
The University of South Florida Board of Trustees Tuesday voted to appoint Melissa Seixas to a four-year term to the USF St. Petersburg Campus Board. Seixas, who earned her master’s degree in history from USF, is the vice president of government and community relations for Duke Energy Florida. She also the current board chair of the St. Petersburg Downtown Partnership. In 2018, she was a member of the USF Consolidation Planning Study & Implementation Task Force, which provided recommendations to the board of trustees for USF consolidation. The USF St. Petersburg Campus Board consists of five members residing in Pinellas County who serve staggered four-year terms. Seixas will serve a four-year term, ending June 30, 2023, and will be eligible for a four-year reappointment.
Suncoast Credit Union signed a definitive agreement to purchase Miami-based Apollo Bank. Apollo, with $746 million in assets and approximately 100 employees, is a locally owned and operated community bank that launched in 2010 and now has five branches in Miami’s Brickell Financial District, Doral, Coral Gables, Kendall and Hialeah. The deal is expected to close in 2020. Financial terms were not disclosed, but Suncoast said in a news release that it is the largest bank acquisition by a credit union in U.S. history and the 12th acquisition of its kind in Florida. Suncoast Credit Union, headquartered in Tampa, is the largest credit union in Florida, the eighth largest in the United States based on membership, and the 10th largest in the United States based on its more than $10 billion in assets.
West Shore LLC acquired Grande Oasis at Carrollwood, an 883-unit residential community on 58 acres. The property offers a "superb location, high end amenities, and a solid job market," Steven P. Rosenthal, chairman of West Shore, said in a news release. The purchase price was not disclosed but a deed filed in Hillsborough County indicates West Shore bought the property for $121.8 million on Nov. 26. West Shore, a real estate investment firm based in Boston, owns and operates 11 other Florida properties, including The District at Clearwater in Clearwater and Grand Oaks Apartments in Riverview.
Marcum, an accounting and advisory firm based in Manhattan, has acquired Skoda Minotti, a Cleveland-based company with an office in Tampa. Financial terms of the deal were not disclosed. Skoda Minotti offers a full suite of accounting, audit and tax services, financial services and business advisory services. The deal allows Marcum to expand its Midwest region outside of the Chicago area and add another office strategically located in Florida, a news release said. Marcum’s new Tampa office will be led by Daniel E. Dowell.
Seedfunders, an early-stage investment firm in St. Petersburg, closed a $100,000 investment in Vacayou, a St. Petersburg company that plans to provide wellness experiences, spa getaways and active travel vacations. The company, founded by Dawna Stone and Muirgheal Montecalvo, fits the investment thesis for Seedfunders, said David Chitester, CEO. The company is locally based and pre-revenue, and also is the first fully female team in which Seedfunders has invested, Chitester said. The investment is Seedfunders' 14th deal in just over a year-and-a-half, Chitester said.
Tech Data Corp. (Nasdaq: TECD) has completed its acquisition of DLT Solutions, a software and cloud solutions company focused on the U.S. public sector. Financial terms of the deal, initially announced in late October, were not disclosed. DLT complements Tech Data's existing public sector business with additional expertise and resources to accelerate growth and streamline existing complexities for channel partners serving the U.S. public sector space, a news release said. The acquisition comes in the midst of Tech Data's own sale. The Clearwater IT distributor has agreed to be acquired by funds managed by Apollo Global Management Inc. in a $6 billion deal that would take Tech Data private.
Ryan has acquired SALT Payroll Consultants, a state and federal payroll tax recovery firm based in St. Petersburg. Financial terms were not disclosed. SALT, founded in 1994 and a subsidiary of Pinpoint Recovery Solutions Corp., is a recognized market leader in the recovery of unidentified payroll tax refunds and savings opportunities for multinational corporations, a news release said. Kevin Cappock, managing partner and CEO of SALT, will join Ryan as principal and practice leader of Ryan’s Human Capital Tax practice. Ryan is a Dallas-based global tax services and software provider.
Investor's Business Daily highlighted Jabil (NYSE: JBL), the largest company in St. Petersburg, saying the contract manufacturer is earning plaudits for diversifying its business and improving profitability. Investor's Business Daily said Jabil was its "stock of the day" on Wednesday, as it trades near a 13-year high. Jabil climbed to $39.73 on Nov. 12 but has fallen back slightly since then and was trading at $39.29 near the close Wednesday. Jabil has posted seven straight quarters of double-digit gains in sales year over year, Investor's Business Daily said. While Apple (Nasdaq: AAPL) remains a major customer, Jabil has diversified, making more products for Apple than it used to, while also being less dependent on Apple for revenue.
Major League Baseball's postseason players’ pool topped $80.8 million and the Tampa Bay Rays got a piece of that. The Rays were one of four runners-up in the American League Division Series and their share of the players’ pool was $2,627,987.24, a news release from Major League Baseball said. In turn, the Rays issued to players 55 full shares, a total of 13.766 partial shares and 11 cash awards, with each full share valued at $36,835.39. The league's collective bargaining agreement with the players calls for a percentage of the post-season receipts to come back to them, Forbes reported.
