Done Deals: St. Pete shopping center sells for $20.5 million, New manufacturing hub debuts, Local car wash to expand
/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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St. Pete's Crosswinds Shopping Center sells for $20.5 million
The crosswinds shopping center in st. pete | Crim & Associates
The 141,577-square-foot Crosswinds Shopping Center has a new owner.
Michigan-based Cambridge Investors sold the shopping center at 2030 66th Street North for $20.5 million to Georgia-based real estate companies Crim & Associates and Wallace Properties.
The retail center is fully leased with anchor tenants Marshalls, Michaels, Bealls, and Havertys.
The buyers took out a $12 million loan from Midflorida Credit Union.
NorthBridge Commercial Real Estate Group will retain the leasing and management services for the property.
Pierce Mayson, Kyle Stonis, and Boris Shilkrot of Matthews Real Estate Investment Services represented the seller. Jannie Hueting of NorthBridge Commercial Real Estate Group represented the buyers.
Wallace Properties, one of the buyers, owns commercial properties throughout the Southeast, including St. Pete’s 4th Street Shoppes retail strip at 8808 4th Street North.
Mitsubishi dealership sells
the St. pete mitsubishi car dealership in seminole | St. pete mitsubishi
The St. Pete Mitsubishi car dealership in Seminole has traded hands to another auto dealership owner.
The TKO Group, which owns a collection of dealerships, sold the property at 8350 Park Boulevard to Jarrett Properties I LTD for $9 million.
The buying entity is connected to Bill and Brian Jarrett of the Jarrett Auto Group.
The brothers operate several Ford dealerships throughout Florida.
The purchased property consists of three buildings–a 28,277-square-foot showroom, sales office, and parts departments; a 17,970-square-foot service garage with a paint booth; and a 2,280-square-foot wash and detail center, according to a Loopnet listing.
The buyers took out a $7.2 million mortgage loan from Southstate Bank.
New St. Pete manufacturing center opens
Cynthia Johnson, Director of Pinellas County Economic Development, and others celebrate the opening of AGORA Edge’s new manufacturing facility | PCED
AGORA Edge, a St. Pete-based manufacturer of soft goods and medical supplies, has expanded its local operations with a new 48,000-square-foot facility.
This week, the Pinellas County Board of County Commissioners celebrated the ribbon-cutting for the new center at 2000 29th Street North.
AGORA’s prior HQ is at 2101 28th Street North. With rising demand from its customer base, including some Fortune 500 companies, the company outgrew its previous space and pursued financial assistance from Pinellas County via the Employment Sites Program (ESP).
The ESP was created to assist in the construction and redevelopment of industrial properties and boost local economic prosperity. Through the ESP, the county is anticipated to award over $90 million to developers, businesses, and other agencies over 10 years.
AGORA was awarded just over $1.7 million in ESP funding for the $11.57 million project.
The new hub will create 50 new jobs.
The infrastructure at the new center allows it to expand by an additional 32,000 square feet, potentially adding 70 to 100 more jobs in the future.
St. Pete Commerce Center sells
The three-building st. pete commerce center | foundry commercial
A multi-tenant industrial center in St. Pete has sold for just under $5 million.
Koda Continental Realty LLC sold the St. Pete Commerce Center, a three-building, 5.25-acre center at 4001 35th Street North to Colorado-based Legacy Capital Partners.
The seller has occupied the building for four years, according to a listing from real estate firm Foundry Commercial, which was retained as the exclusive listing agent.
The three warehouse buildings total 62,335 square feet and feature roll-up grade-level powered doors.
In addition, there is a half-acre of concrete outdoor storage.
Changes coming to car wash business coming to 4th Street
A rednering of the redesigned car wash | city of st. petersburg
The shuttered Mariner Car Wash at 3338 4th Street North may undergo a major expansion.
The planned change comes after Mariners Service Corp. sold the facility in December 2022 for $3.427 million to Wash 4th Street LLC.
The LLC is connected to resident Michael E. Barger Jr.
A rendering of the new car wash as seen from the street | city of st. petersburg
The Mariner Car Wash, established in 1988, is getting a fresh new logo and will be repainted in a gray and blue color scheme.
The owner is requesting an alleyway vacation and site plan approval from the city to redevelop and expand the car wash.
New marijuana dispensary coming to St. Pete
The building on 4th street that a new jungle boys marijuana dispensary shop will debut at | loopnet
Also coming to 4th Street, is a new marijuana dispensary.
Los Angeles-founded marijuana dispensary company Jungle Boys, which recently opened a dispensary in Tampa, will open its first St. Pete shop at 4500 4th Street North, according to a newly filed permit with the City of St. Petersburg.
The 1,980-square-foot space was formerly the home of Wings Bookstore, which has relocated to 4140 5th Avenue North and now boasts the name Wings Metaphysical Gifts and Books.
The new Jungle Boys dispensaries sell vape pens, concentrates, premium flowers, and different strains and blends.
The Jungle Boys have not yet announced an opening date for the St. Pete shop.
Largo apartments sell for $72 million
The 258-unit charleston on 66th largo apartment complex | charleston on 66th
The Charleston on 66th apartment complex in Largo has sold for $72 million.
An entity connected to Boston-based real estate firm Eaton Vance, global financial services firm Morgan Stanley, and Belhurst Realty Corporation II have purchased the newly built apartment community at 12700 66th Street from Chicago-based Revantage, a Blackstone portfolio company.
Constructed in 2018, the Charleston on 66th development has 258 units throughout two four-story buildings.
The one-, two-, and three-bedroom units range from 794 to 1,416 square feet and feature granite countertops, wood-inspired flooring, and balconies.
The residential amenities include a resort-style pool, fitness center, conference room, game and media rooms, dog park, and a self-service car wash area.
