Portion of Tyrone Square Mall sells for $37.8 million
By Breanne Williams
Tampa Bay Business Journal
Published: Sep 25, 2023

A shopping center in St. Petersburg’s Tyrone Square Mall has sold for $37.8 million.

The center, located at 2300 Tyrone Blvd. N, was sold by Seritage SRC Finance, an affiliate of Seritage Growth Properties, according to a release from the attorney representing the lender for the buyer.

The buyer was Boston Capital LLC, and the deal closed on Sept. 21. The buyer secured a $16.5 million loan from Miami-based City National Bank of Florida. A deed has not yet been filed in Pinellas County.

Day Pitney attorney Daniel Diaz Leyva facilitated the closing of the loan with City National Bank of Florida. Greenberg Traurig Attorney Danielle Gonzalez represented the borrower.

“The St. Pete market continues to attract investment as the area experiences strong levels of growth, and this transaction underscores why City National Bank chose to enter the Tampa Bay area in 2021,” Diaz Leyva said in a release. “It also demonstrates my client’s ability to fund high-quality assets in one of Florida’s top-performing retail markets.”

The shopping center includes Dick’s Sporting Goods, PetSmart and Five Below. An Aldi is scheduled to open in the shopping center in the next few months.

Seritage Growth Properties owned a portion of the Tyrone Square Mall. Simon Property Group owns the remaining portion of the shopping center.