Flex building near Tesla's new facility in Lealman sells for $7.1 million
By Breanne Williams
Tampa Bay Business Journal
Published: May 24, 2023

A property near the new Tesla Service Center in Lealman has sold for $7.1 million.

According to a Pinellas County deed, the buyer, a private entity based in Largo, purchased the property at 4711 34th St. N, from Hilltop Research. The sale closed on May 16.

Hilltop Research will lease back 31,000 square feet of the 55,000-square-foot multitenant building. The property can be used for both office and light industrial tenants.

Ned Willis of Vector Commercial Real Estate Services represented the buyer. The building is directly adjacent to the Tesla Service Center, which opened earlier this year. Rob Truett, principal of Delray Beach-based Truett Realty Group, transformed the former Kane’s Furniture liquidation center into a more than 100,000-square-foot, state-of-the-art Tesla Service Center.

The Tesla Service Center sold for $26.25 million to Marc Cohen, formerly of Maryland-based Priority 1 Automotive Group, according to a Pinellas County deed.

The area is part of unincorporated Pinellas County and lies within the Lealman Community Redevelopment Area, established in 2015. Truett said since the renovation, he has been approached by multiple neighboring landowners who want to see similar projects revitalize the outdated sites.

Christopher Moore, assistant to the county administrator for Lealman, previously told the Tampa Bay Business Journal Lealman has “a lot of potential” for development for the county.

“It’s particularly important here in a low-income community where folks typically judge a book by its cover. The image of a company like this on top of the business aspects of it can really, truly have a ripple effect,” Moore said. “You see it in residential facade programs and things like that where you fix up your house, your neighbor fixes up their house, and soon the whole neighborhood is renovated.”