Done Deals: Sundial adds new tenant, Mirror Lake site sells to developer, Foot Locker approved for city incentives
/A rendering of the re-ensvisioned sundial shopping center in downtown st. pete | paradise ventures and ally capital group
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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Medical tenant to open in Sundial shopping complex
A rendering of the reimagined sundial shopping complex in downtown st. pete | paradise ventures and ally capital group
Medical diagnostic imaging company Prenuvo will open a new center at the Sundial shopping center in downtown St. Pete.
The Boca Raton-founded business, which offers full-body MRI scanning, will open on the second level of the complex at 153 2nd Avenue North.
Prenuvo will be the third new tenant coming to the Sundial since St. Petersburg-based Paradise Ventures and Tampa-based Ally Capital Group purchased the property in early 2022 for $21.13 million from Bill Edwards.
The other new tenants include anti-aging medspa company Serotonin and Forbici Modern Italian, one of Tampa’s most heralded Italian restaurants.
The new tenant addition comes after a judge recently denied a request by the neighboring AMC movie theater to halt construction on the renovation of Sundial.
Developer closes on Mirror Lake property for condo project
A rendering of the proposed development, which includes the preservation of the existing Cade Allen home | Backstreets Capital
Local developer Backstreets Capital has acquired several parcels on Mirror Lake where they plan to preserve a historically significant property and build a new luxury condo building fronting Mirror Lake.
Backstreets Capital purchased the 4,047-square-foot building at 250 Mirror Lake Drive North and the neighboring vacant parcels for a combined $5 million from Matt Weidner of Weidner Law.
Weidner, who operated his law practice out of the Mirror Lake building, recently acquired a 2,346-square-foot building at 856 2nd Avenue North, which sits directly behind the 11 Chicks Venezuelan restaurant, for $1.4 million.
As for the 87-year-old Mirror Lake office building, Backstreets Capital will restore it into its original use as a single-family home.
The property backstreets capital purchased fronting mirror lake | st. pete rising
Additionally, a new two-story single-family residence will be built on the northeast corner of the property, and an 18-unit, seven-story condo building will be constructed on the west side of the property on what is currently a vacant lot.
The proposed condo tower will embody a contemporary architectural style and incorporate Mediterranean Revival elements inspired by other historic structures in the neighborhood.
Backstreets Capital, working with Place Architecture, says the timeline for the construction of the seven-story building is likely two to four years out and there are no immediate plans to launch sales or break ground.
Sandwich food truck finds new home in St. Pete's EDGE District
Offset sandwich exchange is now parked at green bench brewing co. | offset sandwich exchange
Offset Sandwich Exchange, a food truck that travels to pop-up events around the city, now has a permanent home base.
Business owners John Harrell and his wife Amy DePalma-Harrell recently secured a spot at Green Bench Brewing Co. at 1133 Baum Avenue North.
Parked outside the brewery, the food truck serves its popular Nashville Hot Chicken, Fried Green Tomato, and Korean Fried Chicken sandwiches. It also serves smash burgers.
Additionally, Offset offers sides such as sweet potato fries with hot honey, curry coleslaw, and Cuban and Reuben egg rolls, as well as sweet treats like the banana cheesecake flautas.
The food truck also sells cold brew coffee from St. Pete roaster Look Alive Coffee.
Offset Sandwich Exchange is currently open Thursday through Sunday. Follow them on Instagram and Facebook for the latest menu items.
SPCA sells shuttered St. Pete vet clinic
A new vet practice is taking over SPCA’s former veterinany center in the historic kenwood neighborhood | yelp
The Society for the Prevention of Cruelty to Animals Tampa Bay (SPCA) has sold its shuttered veterinary clinic in St. Petersburg's Historic Kenwood neighborhood.
SPCA sold the nearly 12,000-square-foot center at 3250 5th Avenue North to Epic Specialty and Emergency Pet Care for just over $4 million.
The new center is expected to open in January 2025, according to a LinkedIn post from the new clinic.
Epic Specialty and Emergency Pet Care took out two loans from Live Oak Banking Company totaling $6.2 million.
The vet clinic is currently hiring emergency doctors, technicians, vet assistants, and client care associates for the new location.
City grants incentives for Foot Locker HQ relocation
Foot locker already maintains a corporate office in St. Petersburg at 140 Fountain Parkway in the Carillon Office Park | loopnet
The massive athletic wear retailer Foot Locker may receive an incentive package of up to $475,000 to relocate its headquarters from New York City to St. Petersburg in late 2025.
St. Petersburg City Council recently approved the incentive funding agreement for the Fortune 500 company that promises to invest at least $20 million in a new HQ and create 150 new jobs with an average annual salary of $120,000.
The retailer, which currently has 156 employees at the global HQ in New York City, expects to maintain a minimal presence in the Big Apple after the move.
Foot Locker, which must execute a lease for at least 100,000 square feet of office space in order to obtain the city’s incentives, already maintains a corporate office in St. Petersburg at 140 Fountain Parkway in the Carillon Office Park.
According to the project application, Foot Locker is considering occupying "two buildings [of similar size] within the city limits of St. Petersburg."
The company plans to lease the office space for 11 to 13 years. Foot Locker is working with Dan Breen, Managing Director at JLL.
The city will pay Foot Locker a hiring incentive of up to $240,000 for hiring individuals who live within the boundaries of the South St. Petersburg Community Redevelopment Area (CRA).
The employees must be employed for at least six months.
Foot Locker will be eligible to receive the hiring incentive for 10 years from when the new HQ opens.
St. Pete Save A Lot sells
the interior of a save a lot supermarket | save a lot
A Save A Lot discount supermarket in St. Petersburg has sold for approximately $1.57 million.
Michael Needler Jr., CEO of Ohio-based Fresh Encounters Inc. a parent company of eight different grocery and retail brands, purchased the Save A Lot at 701 Dr. Martin Luther King Jr. Street North from SAL Asset Holdings LLC.
In 2020, Needler acquired 51 Save A Lot stores throughout Tampa Bay.
Needler wasn't immediately available to comment on the freestanding 14,626-square-foot St. Pete store.
In a previous interview with the Tampa Bay Times, Needler said he planned to bring $5 million worth of improvements to the stores.
He views the Save A Lot investments as an "opportunity to serve a niche in different neighborhoods."
Fresh Encounters, run by Needler and his sister, Julie N. Anderson, operates stores throughout Ohio, Indiana, and northern Kentucky under a multitude of banners, including Great Scot, Community Markets, Sack n Save, King Saver, Germantown Fresh Market, Remke Markets, Chief Supermarkets, and Needler’s Fresh Market.
"My sister, Julie, and I have grown up in the grocery business and look forward to bringing our genuine family values to the markets we serve. I know customers will experience the pride we feel serving our friends and neighbors every day," Needler said in a statement on the company website.
