Nearly $100 million invested as developer continues buying spree along Salt Creek in south St. Pete

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Nearly $100 million invested as developer continues buying spree along Salt Creek in south St. Pete

Clearwater-based real estate firm Prometheus Partners has acquired another property along Salt Creek, pushing its total investment in the area to nearly $100 million over the past year and a half.

Prometheus purchased a 4.63-acre property at 263 13th Avenue South for $28.215 million from Bayboro Partners LTD on December 31st.

The site is home to Bayboro Station, an 80,991-square-foot, three-story office building originally constructed in 1924 as one of St. Petersburg’s first power plants, and an adjacent surface parking lot.

Today, the building houses several tenants, including Pinstripe Marketing, Carbon Design & Architecture, and the Southeast regional headquarters of the National Oceanic and Atmospheric Administration (NOAA) Fisheries.

With this latest purchase, Prometheus has now spent more than $93.8 million acquiring nearly 23 acres in the Salt Creek area, making it one of the largest private landholders in the neighborhood.

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Real estate investor purchases another property near Salt Creek in St. Pete for $6 million

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Real estate investor purchases another property near Salt Creek in St. Pete for $6 million

Clearwater-based real estate company Prometheus Partners, which has been quietly assembling acres of contiguous property just south of downtown St. Petersburg, has acquired another site.

Through its affiliate, Prometheus Franchise Restaurant Holdings LLC, the group purchased the 24,500-square-foot warehouse at 1499 Beach Drive SE for $6 million from Cato Holdings LLC.

Built in 1959, the art deco-style building sits on 1.37 acres near Salt Creek. It currently houses the Salt Creek Arts Center, a maker space offering studios and galleries for local artists, as well as moving company Swift Moves.

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