Properties throughout Pinellas County face new futures with fresh ownership
By Breanne Williams
Tampa Bay Business Journal
Published: Oct 15, 2021

Development activity in Pinellas County is going strong.

Here’s a roundup of some recent deals that won’t make major headlines, but demonstrate the kinds of uses and transactions making their way to the closing table.

Carillon Parkway office sells for $19 million

An 80,000-square-foot office building on Carillon Parkway was sold on Sept. 24 in a $19 million deal.

Formerly the site of Triad, which closed its doors in 2020, the three-story office complex was purchased by Virginia-based Reva Cos. The seller was Plantation-based SH 100 St. Pete LLC. Reva took out a $15.2 million mortgage from Ameris Bank on Sept. 29.

The property, 100 Carillon Parkway, lies off Ulmerton Road and includes a three-story, Class A office building in Carillon Park with 465 surface parking spaces and 20 covered parking spaces. Within is an on-site cafe.

It lies near the BayCare Wellness Center, Hilton Hotel, a nature preserve and a variety of restaurant amenities and has direct access to Interstate 275. The office building was built in 1987 and renovated in 2005.

The property had been advertised for leasing opportunities at $26 per square foot.

Manufactured home park sold for $7.86 million

Delaware based-7230 4th Street LLC sold Hollywood Mobile Home Park, 7230 Fourth St. N, St. Petersburg, for $7.86 million.

The community was purchased on Sept. 30 by Hollywood SP MHC LLC, a Delaware limited liability company. Hollywood Mobile Home Park features a clubhouse and has approximately 230 individual units in the community.

Largo shopping center sells for $19.5 million

The Indian Rocks Shopping Center in Largo was sold Sept. 29 by Tampa-based Forge Capital Partners to Central Florida-based Tricon Development in a $19.5 million deal.

Publix Super Markets Inc. has a 43,031-square-foot store in the plaza at 12018 Indian Rocks Road. There is also a Goodwill, Bealls Outlet, Dollar Tree and several other businesses. The plaza itself is 93,264 square feet. Tricon has acquired several other shopping centers over the years including property in Tampa, Kissimmee, Winter Park, Bradenton and Gainesville.

The company also has expanded and developed more than 30 waterfront condominiums along Florida’s coastline.

Clearwater’s Magnuson Hotel is acquired in a $6 million deal

Jacksonville-based U.S. Highway Hospitality Associates LLC purchased the 118-room Terrace Garden Inn from Magnuson Hotels in a $6 million deal.

Horwood Hotel Works sold the 45,514-square-foot hotel, 21252 U.S. Hwy. 19 N, Clearwater, for $53,389 per key on Sept. 24. DSH Hotel Advisors were the exclusive broker for the sale. The two-story hotel was built in 1972 and includes a pool, patio and business center.

Major expansion ahead for The Cordova Inn in St. Petersburg

Downtown St. Petersburg’s historic boutique hotel The Cordova Inn, 253 Second Ave. N, will soon be undergoing a major expansion.

The hotel was purchased in December by Pinellas County-based New Hotel Collection for $3 million.

The plan is to transform the 12,200-square-foot hotel from a 32-room to a 94-room facility. Plans filed with the city of St. Petersburg show New Hotel Collection also intends to add a restaurant, rooftop bar and pool to the facility. The plans indicate another 38,200 square feet will be added to the historic building in the 100-year-old hotel.