Done Deals is a new weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
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Read MoreNearly a year after purchasing the Sundial retail and dining center at 153 2nd Avenue North in downtown St. Pete for $21.13 million, St. Petersburg-based Paradise Ventures and Tampa-based Ally Capital Group have unveiled a plan to renovate a portion of the 85,357-square-foot plaza.
Designed by Behar and Peteranecz, a St. Petersburg-based architecture firm, the reimagined Sundial will feature multimillion dollars in improvements intended to revitalize the once upscale retail destination into a modern mixed-use urban destination.
The most significant change will be a complete overhaul and activation of the plaza’s courtyard. Plans call for an updated courtyard with a large outdoor bar and plenty of communal green space for engaging programming and for guests to sit and enjoy food and drink.
Read MoreLast week Sundial released its tenant lineup and announced it was 90% leased. I've given the store lineup a few days to sink in and I must say that while I'm not taken aback by the stores, I am impressed. In today's retail market it takes a lot for a brand to risk opening a store, let alone in a previously failed downtown retail center.
While there isn't a famed J.Crew or an Apple store, what we got is a very diverse mix of national and local retailers, which I think is great.
If there's one thing for certain it's that Downtown St.Petersburg is booming. Almost daily there seems to be news of new construction or new restaurants or someone doing something big. The transformation seen in Downtown St.Pete over the past decade is almost unbelievable and it hasn't stopped. With all the development going on, someone has to argue: What does it take to be considered the biggest news of the day in Downtown St.Petersburg?
Read MoreOne of the biggest mysteries surrounding Sundial St.Pete is whether or not its tenant lineup will create a shopping and dining destination. In its heyday, Baywalk was a booming shopping center with bustling shops and restaurants but controversy sunk the retail complex and brought vacancy rates close to 90%. Sundial St.Pete hopes revive the shopping center and give it new glory. I'm confident that Bill Edwards will bring a strong tenant list to- once again- make the complex a top destination. Recently the Tampa Bay Times revealed that a Marilyn Monroe spa and possibly a Ruth's Chris Steak House will be among the tenants in Sundial. Joining these two tenants are the return of Chico's and White House Black Market.
Read MoreSt. Pete Rising is an online urban development publication covering retail, restaurants, and real estate news in St. Petersburg, FL
