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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A familiar Pinellas County doughnut shop is coming to South Pasadena.
Fray’s Donut House will open at 1200 Pasadena Avenue South, taking over the former Dunkin’ location just down the street from Ted Peters Famous Smoked Fish.
The shop is expected to open in January 2027.
Serey Siev, who will co-own and operate the shop with his wife, Phiny Long, purchased the building for $925,000, according to Pinellas County property records.
The building will receive mostly cosmetic updates before reopening, including the installation of Fray’s familiar white sign with red and black lettering.
The South Pasadena location will serve more than 30 types of doughnuts, from glazed, chocolate frosted, cinnamon sugar, Boston cream, rainbow sprinkle, and old fashioned varieties to cronuts, apple fritters, and éclairs.
The shop will also serve muffins, cinnamon rolls, breakfast sandwiches, espresso drinks, and drip coffee.