A weekly roundup of local real estate offers.
Tyrone Square Mall will host artist studios
Simon Property Group, which owns Tyrone Square Mall, is partnering with South Florida-based Zero Empty Spaces to bring art studios to the mall.
Zero Empty Spaces works with property owners and developers to do something with vacant properties that are open for activation, rather than sitting empty.
The organization has contracted with Simon Property Group to lease several of the mall’s vacant storefronts – those in the western section, the so-called “Dillard’s Corridor” – as artists’ studios and affordable galleries.
Interested artists are invited to an open house from noon to 1 p.m. on Saturday, April 2 to view available showcases and speak with representatives from Zero Empty Spaces.
All spaces are $2.50 per square foot, including water and electricity, on a monthly basis. The average available space is 120 square feet, or about $300 per month plus tax.
Bayway Isles estate with ‘tropical oasis’ is about to be sold
A 4,200 square foot home tucked away in the $2.4 million Bayway Isles neighborhood is now awaiting sale.
The estate at 5339 62nd Ave. S. is across from a strip of waterfront property lined with homes and appears to have a secluded 0.93 acre spot, nestled between land and a pond.
The highlight of the five bedroom home is the courtyard which is described as a tropical oasis surrounded by banana and mango trees and lush gardens. The outdoor entertainment area includes a cave lagoon-shaped swimming pool, outdoor kitchen, fire pit and a “butterfly house”.
The estate, built in 1989, has an open floor plan where the great room flows into the formal dining room and upscale kitchen with modern appliances.
The house has a split bedroom layout. One of the rooms is converted into an office with custom woodwork and shelving.
Another highlight on the list is the 4,000 square feet of space downstairs which could ideally be turned into an entertainment area.
Karen Hagemeier of Premier Sothebys International Realty is the listing agent. Jen Dunn is the co-list agent working with Hagemeier.
The home last sold in 2011 for $525,000.
JLL tapped to lead leases for 75-acre Gateway development
Property management company JLL has been selected by Greystar to manage the rental of its future Gateway Logistics Center at Interstate 75 and Gandy Boulevard.
About two weeks ago, South Carolina-based developer Greystar bought the 93-acre property from Jabil Inc. in a $32 million deal.
The majority of the property will be used to build the industrial park, while the remaining property will become the site for multi-family housing.
Construction of the 622,270 square foot center is expected to begin this summer with three buildings totaling 290,000 square feet for the first phase. The initial space for the first phase will be available in early 2023.
JLL Executive Managing Director John Dunphy, Managing Director Julia Silva and Vice President Scott Altieri will lead the hire.
Greystar’s Ascent Downtown Tower Achieves Construction Milestone
Greystar, which is developing the 75-acre Gateway Industrial Project, is also developing the mixed-use development called Ascent St. Petersburg at 225 1st Ave. NOT.
Christopher Bayer, senior construction manager at Greystar, took to LinkedIn to announce that the the main roof deck of the tower’s 37th floor was successfully sunk.
The completion of a molding for the skyscraper development is considered a major construction milestone.
When complete, the building will have 172 hotel rooms, 354 apartments and 6,600 square feet of retail space.
It will feature four parking levels, a sixth-level dock with indoor and outdoor amenities including a fitness center and swimming pool, and a rooftop terrace and amenity space above the residential building , according to the site plan.
The building is expected to open in 2023.
Wyndham Grand Clearwater Beach Resort sells in $170 million deal
The Wyndham Grand Clearwater Beach resort, owned by Tampa serial entrepreneur and philanthropist Dr. Kiran Patel, has been sold in a $170 million deal.
The resort, which opened in 2017, is Clearwater Beach’s largest development. The resort is divided into two 15-story towers overlooking the Gulf of Mexico.
Patel-related K&P Clearwater Estate LLC sold the resort to JEMB Pocono LLC, which is related to Broadway, New York-based JEMB Realty.
Patel told the St. Pete Catalyst he will remain a minority shareholder while JEMB is now the majority shareholder.
“In tough times like the Covid pandemic or hurricanes, it’s nice to have a partner. A man can’t carry the burden,” Patel said.
Patel explained that JEMB visited the station and “fell in love with it”. After meeting the band, Patel said they had good chemistry and the next step was to strike a partnership – allowing JEMB to become the majority owner.
Morris Bailey, president of JEMB Realty, led the deal with Patel.
Today, the Wyndham Grand Clearwater Beach is the newest AAA Four-Diamond hotel on the Gulf Coast. One of the towers has 343 rooms and the second tower has 105 condominium units.
Read the full story here.
Le Portillo’s will open on April 5
Chicago-style hot dog restaurant chain Portillo’s will open its first location in St. Pete this month.
Several months ago, the St. Pete Catalyst reported that the chain had filed a stormwater treatment request indicating that the restaurant planned to open at 2303 Tyrone Blvd. NOT
The channel is expected to open the new spot on April 5. An inauguration ceremony will take place, with the Chamber of Commerce of Saint-Petersburg, at 10 am.
The 7,800 square foot location will feature classic 50s-style decor indoors and a seasonal outdoor patio.