News Summary
Recent business and real estate developments in St. Petersburg and Clearwater highlight a dynamic shift in the local market. Major transactions, including the sale of the Crosswinds Shopping Center for $20.5 million, and the expansion of local businesses like Bean Wandering, signal a thriving economic environment. Additionally, residential projects and community initiatives further emphasize the growth and commitment to quality living and sustainability in the area.
Exciting Business Developments and Real Estate Moves in St. Petersburg and Clearwater
St. Petersburg and Clearwater are buzzing with recent developments in the real estate sector, with several high-profile transactions making waves in the local market. From shopping centers to industrial parks, the two cities are undergoing significant changes that could affect residents and business owners alike.
Big Gains for Commercial Properties
Let’s kick things off with the Crosswinds Shopping Center in St. Petersburg, which just sold for a whopping $20.5 million. Located at 2030 66th Street North, this shopping hot spot is fully leased and boasts anchor tenants like Marshalls, Michaels, Bealls, and Havertys. With so many popular chains setting up shop, it’s safe to say this center will continue to be a go-to for locals.
Across town in Clearwater, three parcels of land in Airport Industrial Park have found a new owner after being sold for $19.05 million. The total combined space of these parcels is over 156,000 square feet, marking a significant investment in mixed-use industrial developments. Albany Road Real Estate Partners were the sellers, while the buyers were i3 Investors, further shifting Clearwater’s industrial scene.
New Arrivals and Expansions
Change is in the air with the recent opening of The Book Rescuers at 8325 Ulmerton Road in Largo. This new storefront features over 100,000 books along with a cozy 60-seat reading lounge and a delightful coffee and tea bar—perfect for bookworms looking to sip a warm drink while diving into a good story!
Speaking of sweet treats, the popular mobile coffee truck Bean Wandering will be expanding its brand by opening a new café in downtown St. Petersburg at 100 2nd Avenue South, replacing the old Nature’s Table. Given its TikTok fame, this new spot is sure to attract coffee lovers from all around.
In other exciting news, AGORA Edge, a local manufacturer of soft goods and medical supplies, has expanded into a new 48,000-square-foot facility at 2000 29th Street North. This growth marks an important step for the company and the community as it ramps up production.
Residential Developments on the Rise
Turning to residential properties, The Charleston on 66th, a sprawling 258-unit apartment complex in Largo, was sold for an impressive $72 million to a group associated with Boston-based firms. This purchase is reflective of the growing demand for quality living spaces in the area.
Meanwhile, the St. Pete Mitsubishi dealership in Seminole has changed hands after selling for $9 million. The TKO Group sold it to Jarrett Properties I LTD, connected with the Jarrett Auto Group, signaling ongoing activity in the automotive sales sector.
Local Initiatives and Community Anchors
Pinellas County isn’t just relying on commercial growth; it’s proactive with an accepted $2.25 million grant from the National Oceanic and Atmospheric Administration aimed at marine debris removal, emphasizing a commitment to environmental sustainability.
The City of St. Petersburg has also received $3,645,080 from the U.S. Department of Transportation for road safety projects, underscoring the focus on improving infrastructure for residents.
Healthcare and Educational Advancements
In healthcare updates, Pediatric Cardiology Associates and the Tampa Bay Adult Congenital Heart Center are now part of Clearwater’s BayCare Medical Group, enhancing the quality of care in the region with the addition of multiple physicians and advanced practice providers.
On the educational front, local community college St. Petersburg College is planning to launch two new Artificial Intelligence certificate programs in Spring 2025, positioning students for future opportunities in the tech industry.
As these developments unfold, St. Petersburg and Clearwater are proving to be dynamic cities full of business potential and community-oriented growth. New businesses and properties are emerging at every turn, and it’s going to be an exciting time to be in the area!
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Additional Resources
- TBB Business News
- Patch: Michelin Guide Grows
- Fox 13 News: Local Artists Thrive
- ABC Action News: St. Pete Beach Meeting
- The Gabber: Sweetgreen Opens
- Wikipedia: Real Estate Development
- Google Search: Business Developments in St. Petersburg
- Encyclopedia Britannica: Business
- Google News: St. Petersburg Real Estate
- Google Scholar: St. Petersburg Business Trends
