Third Lake Partners buys properties near Tropicana Field
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 13, 2022

Third Lake Partners has acquired more United Insurance Holdings properties near Tropicana Field in downtown St. Petersburg.

An entity linked to Third Lake Partners purchased four parcels, including an office building and vacant land used as surface parking, for $6.5 million, according to a deed filed in Pinellas County. The office building is across from UPC Insurance headquarters, located at 800 Second Ave. S in downtown St. Petersburg, which Third Lake acquired in November.

With the purchase, Third Lake Partners now owns the string of the insurer's properties along Third Avenue South.

When Third Lake purchased UPC's headquarters in November, co-founder and managing partner Ken Jones told the Tampa Bay Business Journal that the site's strategic location gave the company "a lot of options" for the property.

Jones said the headquarters property "will dovetail very nicely with any other surrounding development that occurs in the coming year."

Controlling the land on both sides of Eighth Street South gives Third Lake Partners even more control over any future development in the area.

Jones was not immediately available for comment Tuesday.

UPC Insurance announced in August it would be leaving the Florida property market due to "significant uncertainty around the future availability of reinsurance," according to CEO Dan Peed.