Done Deals is a 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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Group scoops up another Salt Creek property

An investment group that has recently acquired multiple properties and marinas along St. Pete's Salt Creek in Old Southeast has made another big acquisition.

The Clearwater-based company, which has ties to Southeast Investment Property Holdings, has purchased the Salt Creek Marina at 107 15th Avenue SE for $16.425 million from 4th Street South LLC.

The 13-slip marina is also a boat dealer and offers dry storage and repairs.

The 3.9-acre site is the latest purchase for the company, which has acquired over 10.5 acres of property along Salt Creek over the past few months totaling $43.7 million.

The acquired properties include the multi-tenant marina at 101 16th Avenue South purchased for $12.5 million, the property at 1421 Bay Street Southeast for $10 million, and the Progressive Marina at 1351 Bay Street Southeast purchased for $4.8 million.

The company has been very tight-lipped about their plans for the assemblage. Redevelopment plans have not yet been submitted to the City of St. Pete.

Report: Tropicana Field damage assessed, needs over $55 million in repairs

The City of St. Petersburg may have to pay upwards of $55.275 million to repair the damaged Tropicana Field, home field for the Tampa Bay Rays.

According to a new report completed by Hennessy Construction Services, damage to Tropicana Field caused by Hurricane Milton will cost $39 million to repair, including roughly $23.6 million to replace the roof.

An additional $16 million would be needed to cover other storm-related costs.

The city council members already approved allocating $6.5 million to have the remaining parts of the roof and the damaged turf removed.

The needed repairs would not be completed until 2026.

During the interim, the Tampa Bay Rays will play their regular 2025 season at Tampa’s George M. Steinbrenner Field, which is the spring training home of the New York Yankees. 

"The hurricane damage to Tropicana Field has forced us to take some extraordinary steps, just as Hurricanes Helene and Milton have forced thousands of families and businesses in our community to adapt to new circumstances as we all recover and rebuild," Rays principal owner Stuart Sternberg said in a statement.

The decision to play outside of Pinellas County comes days before the Pinellas County Commissioners and the City of St. Pete’s Budget and Finance Committee are set to approve issuing bonds to pay for the design and construction of the Rays' future stadium in St. Petersburg, which is planned to come online in 2028.

Pin on Cafe to move to new Grand Central location next week

This Sunday November 17th will be Pin on Cafe’s last day in the EDGE District.

The popular Asian-fusion restaurant will reopen next Thursday November 21st at their new home in the Grand Central District at 2458 Central Avenue, which was formerly home to Valhalla Bakery and Proper Meats.

Pin on Cafe, which will be renamed Pin on Grand after their move, debuted in 2021 at 1100 Central Avenue in the EDGE District. 

The restaurant, along with neighbors EMOTO and Chai Mixology, has been forced to find a new home as its existing location will be razed in the coming months to make way for phase two of the EDGE Collective mixed-use development.

The restaurant is known for its delicious twists on traditional Thai and Japanese dishes.

Pin on Cafe’s new spot, which is over twice the size of its existing location, will contain 2,452 square feet of indoor space and tons of outdoor seating along Central Avenue and in an expansive 700-square-foot backyard.

Car condo complex Motocave makes St. Pete debut

St. Petersburg's first car condo community, Motocave, has made its grand debut - bringing together exotic car enthusiasts and collectors into one destination where they can celebrate their passion and show off their prized vehicles in secured units.

Located at 2051 Gandy Boulevard, the new 55,000-square-foot, five-building warehouse complex has 43 customized air-conditioned “car condos.”

The concept was brought to life by real estate developers Bowen Arnold of Tampa-based DDA Development, Scott Clendening of St. Petersburg Commercial Partners Realty, and Matt Mosk of Largo-based Mosk Development Co.

The units can feature second-floor mezzanines and lifts to also store boats, motorhomes, and motorcycles. Many of the owners have decked out their units like “man caves,” with typical bar games and large TVs to watch sports while lounging on a sofa and admiring their vehicles.

Construction commenced in 2022 with general contractor Atlas Building Company leading the buildout. Atlas also worked on Wheel Base, a Sarasota car condo complex.

As of today, seven units ranging from 960 to 1,296 square feet are available for purchase and are priced from $380,000 to $480,000.

Chipotle in Largo sells

A Chipotle Mexican Grill that opened earlier this year in Largo has sold for $4.075 million.

One Oak Missouri LLC sold the 3,260-square-foot restaurant at 980 Missouri Avenue North to Kentucky-based real estate company Brown Capital.

The freestanding Chipotle property is located on a Walmart Supermarket outparcel. Prior to Chipotle, the building was a Burger King.

The new owner, Brown Capital, has an extensive retail, commercial, and multifamily portfolio. The company owns additional properties housing Chipotle, Cracker Barrel, Kentucky Fried Chicken (KFC), and other fast-casual chains.