Done Deals: Rays seek construction manager, Fresco's remains afloat, 4th Street retail lists
/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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Rays and city issue RFQ for stadium development
A rendering of the proposed Tampa bay rays ballpark stadium | tampa bay rays and hines
The City of St. Petersburg has published a request for qualifications from firms to provide construction management services for the new proposed Tampa Bay Rays stadium.
According to the issued RFQ, the Rays want the ballpark built by January 2nd, 2028.
The new 30,000-seat enclosed ballpark would be located on 10 to 15 acres in downtown St. Pete and is expected to be between 850,000 and 950,000 square feet.
Vying firms must have experience in pre-construction services and construction management of major league sports facilities and with construction of major projects in the Southeast sector of the United States and/or Florida.
"The selected construction manager will be retained initially to provide comprehensive pre-construction services; and if such services are performed satisfactorily, and the construction manager and the Rays arrive at a mutually agreeable Guaranteed Maximum Price (GMP), the selected construction manager will continue for the construction, commissioning, and close-out of the new ballpark," the RFQ reads.
Responses are due by 3 p.m. on May 22nd.
Interested firms can submit their qualifications here.
Fresco's restaurant operations to remain afloat at Municipal Marina
Fresco’s waterfront bistro | Facebook image
As the City of St. Petersburg prepares for a massive overhaul of the outdated Municipal Marina in downtown St. Pete, the city will extend a lease agreement with Fresco's Waterfront Bistro, a longtime staple of downtown's restaurant scene.
At a Thursday St. Petersburg City Council meeting, officials approved a 12-month lease agreement with Dave's Restaurants Inc., which does business as Fresco's, to continue leasing the city-owned property at 300 2nd Avenue NE.
The current 10-year lease term expires April 30th.
The agreement comes after Mayor Ken Welch selected Safe Harbor Marinas LLC for the redevelopment and operational management of the marina adjacent to the St. Pete Pier.
During the public speaking portion of the meeting, Fresco's owner David Sokol said he has met with the selected firm and they may build a new $4 million restaurant that will ultimately replace the 2,600-square-foot restaurant.
Sokol said the restaurant should be completed before the closure of Fresco's, allowing the current 100 employees to not be displaced.
4th Street retail and restaurant buildings lists
The outback steakhouse and panera bread-anchored retail building on 4th Street north | loopnet
The 23,031-square-foot commercial building at 1914 4th Street North, which houses a mix of restaurants and retailers, is on the market for $6.99 million.
Outback Steakhouse and Panera Bread are the anchor tenants with Voyage Med Spa, McLain Foods, Red Effect Infrared Fitness, and St. Petersburg Dental Studio also leasing space in the building, according to a Loopnet listing.
The owner, Fourth Street Retail LLC, purchased the property in April 2021 for $5.3 million.
Ari Ravi with RIPCO Real Estate, who is representing the owner alongside RIPCO's Joe Simpson, told St. Pete Rising that Panera Bread recently renewed their lease.
PSTA and partners solidify land swap deal for new Clearwater transit hub
A rendering of PSTA’s planned Clearwater Multimodal transit center | PSTA
The City of Clearwater and the Pinellas Suncoast Transit Authority (PSTA) have completed a land exchange agreement that will pave the way for a new high-tech bus facility.
The partners will swap out the aging bus terminal site at 525 Park Street for a vacant two-acre city-owned lot at the corner of Court Street and Myrtle Avenue, adjacent to the Pinellas Trail.
The bus terminal will remain operational until the new center comes online in 2026, replacing the old bus facility.
A rendering of the new transit center showing the rooftop solar panels | PSTA
The new $44.5 million facility, dubbed the Clearwater Multimodal Transit Center, will have green technology such as solar panels and electric bus-charging stations.
It will serve 16 routes and have a potential connection to future passenger rail.
The center will also have a small retail space and a coffee shop.
St. Pete Beach apartments sell
The Linncrest apartments at st. pete beach | loopnet
A 21-unit waterfront apartment building on St. Pete Beach has sold for $6.75 million. The property was listed for sale in February 2023 for $12.9 million.
Pennsylvania-based Ghaznavi Enterprises Inc. has purchased the Linncrest Apartments at 1505 Pass A Grille Way.
The three-story building has 200 feet of frontage on Pass-a-Grille Way and contains a fishing dock, 21 parking spaces, and on-site laundry services. The building was constructed in 1973 on a 0.57-acre lot.
The two-bedroom, two-bathroom units have balconies overlooking the Gulf of Mexico.
