Developer buys more land on Salt Creek as investment now tops $59 million
/Clearwater-based real estate firm Prometheus Partners has once again expanded its portfolio along Salt Creek in St. Pete.
The company, which has now spent $59 million acquiring over 15 acres in recent years, quietly acquired two more industrial properties just south of downtown as part of its ongoing effort to assemble a large swath of contiguous land in the Old Southeast neighborhood.
According to property records, Prometheus purchased the 3.4-acre site at 333 16th Avenue South, the 57,000-square-foot former home of Captain’s Fine Foods, for $7.5 million on Monday.
Last Tuesday, the company acquired the 0.48-acre property at 205 15th Avenue Southeast for $2 million. The site includes a 7,000-square-foot warehouse currently occupied by Universal Stenciling and Marking Systems.
Both sites are zoned IC (Institutional Center), which is intended for public and semi-public uses such as hospitals, universities, utilities, and government facilities.
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After years of planning, Craft Kafe is targeting an early October opening for a new cafe and commissary kitchen in St. Pete’s Skyway Marina District.
The homegrown eatery and bakery, known for specialty coffee and a scratch-made gluten-free menu, is putting the finishing touches on its third St. Pete cafe at 4725 34th Street South in the Marina Village shopping plaza, just south of the Marina Walk Apartments.
The 4,700-square-foot space will include a 1,000-square-foot cafe and a large production kitchen designed to supply Craft’s existing stores and support future expansion, according to the owners.
“We’ve planned this one month after opening our first store in St. Pete. Because of the pandemic, issues in logistics, and losing my home from the hurricanes, this has taken so long to open,” founder and owner Teddy Skiadiotis told St. Pete Rising during a private tour.