Office park in St. Pete's Skyway Marina District sells for $40M to South Florida developer
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 16, 2021

Coral Gables-based Altis Cardinal has purchased the 34-acre Ceridian Office Park in St. Petersburg’s Skyway Marina District for $40 million in an all-cash deal.

The property will be redeveloped into a mixed-use project that includes commercial, multifamily and retail space. The intention is to build up to 1,520 units at the site. Frank Guerra, principal and founder of Altis Cardinal, said in a news release that he was “not aware of any other developer in St. Petersburg who currently has this many units under development.”

“We’ve been developing in St. Petersburg for nearly a decade and are pleased to continue our presence here for another decade while working on this multiphase development,” Guerra said in the release. “This area is booming with growth, maturing as a world-class city, and we’re excited to be a part of it.”

Altis Cardinal, headed by Guerra and Alberto J. Suarez, will soon submit a master plan for the property, according to the release. The preliminary development plan for the site is to have an urban mixed-use project that will retain a portion of the 38,000-square-foot office complex currently on the site. Then it will add multifamily units and retail space along 34th Street.

Altis Cardinal was responsible for the redevelopment of the Mosley Hotel property and the Cornerstone Office Complex in St. Petersburg’s Historic Kenwood into Elements on Third, a 10-acre, 431-unit apartment campus with a 112,000-square-foot self-storage project.

“We’re committed to the St. Petersburg community, so we have no hesitation in doubling down our investment here,” Guerra said in the release.

The company plans to build market-rate apartments within walking distance to retail and commercial. The area has recently been the focus of several large projects, including Sur Club, Marina Beach, The Addison Skyway Marina, The Manhattan and Marina Walk.