A weekly summary of local real estate deals.
Kettler’s multiple St. Pete buys the property
One of the largest multi-family development, investment, and property management companies serving regions in the Mid-Atlantic and Southeast U.S., Virginia-based firm Kettler, St. He bought multiple properties in St. Petersburg.
The group, KEM St. 1211 1st Ave, owned by Rick and Mimosa Noll, under the name Pete. purchased the office building at N. for $11.5 million.
The building is home to the Zubrick Magic Theatre, which will continue to operate from August 2021.
The buyer also purchased another property from Mimosas for $2.8 million.
Additionally, Kettler is located at 1101 1st Ave. N. for a total of $4.8 million from a holding company. It houses a MUV medical cannabis dispensary.
According to real estate records, Kettler took out a $13,325 million mortgage loan from Valley National Bank.
Hotel Zamora will be upgraded after acquisition
st. Hotel Zamora, a 72-room hotel in Pete Beach, will get a makeover.
3702 Guld Blvd. Luxury Spanish-Mediterranean hotel in. recently acquired by Sherman Associates for $38 million.
Sherman Associates announced this week that it will pump $7 million into improvements for the hotel, which will “relocate The Hotel Zamora to a luxury four-star hotel.”
Plans include redevelopment of guest rooms, common areas and amenities.
Hotel Zamora sits on 1.61 acres and has private jetty access to the intercoastal, a luxury full-service restaurant. event space and a roof deck with views of the coast. A former bank building and land adjacent to the hotel were also included in the purchase, according to Sherman Associates.
When the facility opened in 2014, St. It was the first hotel built in Pete Beach. The site itself has a long history. It was once the location of a condominium project that was facing bankruptcy.
Beth Music was hired as general manager to lead the hotel reposition through Sherman Associates. He has over 30 years of experience in accommodation at major franchises including Marriott, Hilton, Wyndham and others.
The architect of the renovation project is DLR Group, and the general contractor is Estes İnşaat.
The renovation is expected to be completed in early 2024.
Construction begins for mass housing in the city center
A new townhouse and villa community called Canopy Oaks is currently under construction.
The planned townhouse community, Euclid St. Paul in 1920. MLK Jr. st. It is located in N.
based in St. Petersburg Back Streets Capital and Canopy Builders they are developing the project that will include six luxury townhouses, two villas and a single house.
“We are excited to bring this project to life and believe this type of development sets an example of how new homes can be integrated into established neighborhoods,” said Ben Gelston, President and CEO of Canopy Builders. “The MLK corridor has a lot to offer for residents with lots of restaurants, shops and services within walking distance, and it’s very close to the city centre.”
Canopy Builders moved its office to the neighborhood in 2021.
The 2,500-square-foot townhouse units will have three bedrooms and three and a half bathrooms with engineered hardwood floors. It will offer two-car garages.
Meanwhile, the 2,200-square-foot, two-story villas will feature three bedrooms and will also feature engineered hardwood flooring, high-end finishes and appliances, along with private covered patios with two-car garages and outdoor kitchen upgrades.
The single-family, craftsman-style home will have four bedrooms, three bathrooms, and an upstairs loft.
Canopy Oaks is expected to be completed by the winter of 2023.
Otter PR buys building for new headquarters
Otter PR, the public relations firm that operates out of Thrive, the co-working center in Pete, bought a building across the street.
Group, 324 1st Ave. purchased the 8,000-square-foot building at N. for $2.95 million. From Highland Properties.
Otter PR obtained a loan of approximately $2.7 million from Servisfirst Bank, recorded as two separate loans.
Otter PR is gradually moving its staff into the building and may add a third floor in 2023. The company will continue to operate its second office in Orlando. The majority of its 48 employees are located in St. It is located in Petersburg.
Academy opens its first local store in Pinellas Park
The first Academy Sports and Outdoors store in the Tampa Bay area opened today in Pinellas Park.
This 63,000-square-foot store at 7230 US Highway 19 N. will create 60 new jobs.
The sporting goods and athletic apparel retailer opened nine new stores this year. It plans to open 80 to 100 new stores over the next five years, including plans to open another store at Wesley Chapel in 2023.
“Academy Sports + Outdoors is excited to launch fun in the Tampa Bay community by providing customers with everything they need to make their passion for sports and the outdoors easy and affordable,” Sam Johnson, Academy’s vice president of retail operations, said in a press release. .
“Whether you are an angler looking to catch your next big catch, a holiday shopper looking for the perfect gift, or a fan gearing up for matchday at Raymond James Stadium, our great value and services open up new possibilities for families to be active.”