Three retail buildings on Central Avenue sell in downtown St. Pete’s EDGE District
/Three mixed-use retail properties along the 1100 block of Central Avenue in the EDGE District are now under new ownership.
Dallas, Texas-based investment firm 90Ten has acquired properties directly adjacent to the Moxy Hotel, including the three-story building at 1110 Central Avenue, the two-story building at 1122–1128 Central Avenue, and 1114 Central Avenue, which is currently leased to Sweetgreen.
90Ten purchased the properties for $10 million.
CBRE’s James Garner and Jim Shiebler represented the seller, PTM Partners, in the transaction.
The Central Avenue block acquisition is part of the EDGE Collective, a multi-phased walkable mixed-use that includes the Moxy Hotel, the office and retail building, and a second phase that includes a 20-story luxury apartment building and additional retail.
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A 31-acre office property along McCann Lake has received preliminary approval for what would become the largest apartment community in Pinellas Park, with 552 units, including at least 221 affordable apartments.
City staff approved the preliminary site plan on September 30th for 10222 MCI Drive in the Gateway Centre Business Park.
The two-phase development would replace an office campus with nine four-story apartment buildings, two clubhouses, pickleball courts, and 847 parking spaces.
The apartment proposal relies on Florida’s Live Local Act, which allows residential development on the industrially zoned property, provided that at least 40% of the apartments, or at least 221 units, are reserved for households earning at or below 120% of the area median income for a minimum of 30 years.
The remaining 331 apartments would be leased at market rates.
Plans call for apartments ranging from studios to three-bedroom units. All nine residential buildings would rise four stories, with a maximum height of 50 feet.