Visioning begins for new 28-acre walkable mixed-use development near Warehouse Arts District in St. Pete
/What would you create with 28 acres of land in St Pete? A park? An amphitheater? Attainable housing? Artist studios?
Those questions were at the center of a recent four-day community charrette that began to shape the future of a large industrial property along the Pinellas Trail, home to St. Petersburg Distillery and several vacant buildings.
The 28-acre site at 800 31st Street South, located west of the Warehouse Arts District and across from Gibbs High School, is owned by the Iafrate family and is envisioned as a new Creators District.
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Several prominent properties in the EDGE District have sold for $12 million.
According to a deed recorded October 6th, developer PTM Partners sold the three-story building at 1246 Central Avenue and the street-level retail spaces at the adjacent Moxy hotel to L3 Capital, a Chicago-based private equity real estate investment firm that focuses on urban retail.
The 27,261-square-foot building at 1246 Central Avenue is home to Bosphorous Turkish Cuisine and Amorino Gelato on the ground floor. Digital marketing company WebFX has signed a lease for the third floor but has not yet moved in, while the approximately 8,700-square-foot second floor remains available for office tenants.
The sale also includes the Moxy hotel’s 3,407 square feet of ground-floor retail space, occupied by Floyd’s Barbershop and Solidcore. It does not include the 163-room Moxy hotel itself, which remains part of PTM Partners’ EDGE Collective development.
James Garner and Jim Shiebler of CBRE represented PTM Partners and L3 Capital in the transaction.