Downtown St. Pete's tallest office tower, 200 Central, sells to local group
/The tallest office building in Pinellas County has changed hands.
Feldman Equities and its partners have acquired 200 Central Avenue, the 28-story office tower at the corner of Central Avenue and 2nd Street in downtown St. Petersburg.
Financial terms of the transaction were not disclosed.
The Tampa Bay-based commercial real estate firm announced the acquisition Wednesday and said it plans to invest more than $20 million into upgrades and improvements throughout the building.
The tower was previously owned by Third Lake Capital, a Tampa-based investment advisory firm, which purchased the property for $65.75 million in 2017, according to Pinellas County property records.
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St. Petersburg will test a new plant-based approach to managing stormwater as part of a $7 million project coming to one of the city’s most flood-prone areas.
The city will install eight HydroPlanters, which are modular rain gardens designed to slow and filter rain runoff before it enters the city’s stormwater system.
Each rain garden is about five feet long, three feet wide, and two-and-a-half feet deep.
Filled with specially designed soil, grasses, shrubs, and small trees, the boxes will be installed in an L-shaped configuration along a city-owned grassy area near the intersection of 50th Avenue North and 7th Street North.
During heavy rain, water from the street will flow into the planters and filter through the soil and vegetation. It will then drain into the city’s stormwater system and eventually the 54th Avenue Canal.