No Comments

CPR Team Member Closes 123 Acre Land Sale in Pasco County

Commercial Partners Realty is pleased to announce the sale of 123 acres of retail and multifamily land in the first phase of a mixed-use development on the State Road 54 corridor in Pasco County. CPR Team member Jim Engelmann represented the sellers, Smith HV & Smith MV Co-Trustees & Dolcimascolo MM et al, in the $6,282,000 transaction.

According to Engelmann, “This property is one of the last large development sites along the State Road 54 corridor.  When COVID disrupted the commercial real estate market, there were definite concerns that the retail users and residential developers would walk away from this site, as well as other properties under contract.  However, the Pasco market is very strong, and demand is high for convenience, quick service restaurants and new homes.  All of the intended users stayed under contract and are now preparing to start construction.  As the Pasco momentum continues, we will see more mixed-use developments come online.”

While the virus was definitely a concern, it did not ultimately stop the project’s developer, the Ferber Company, from moving forward.  The Ferber Company, is a privately held real estate development and investment company that is involved in a broad array of commercial real estate projects. Their clients range from local businesses to large national brand retailers. The company was pleased to close on the first phase of the project.

Ryan Plate, Vice President of the Ferber Company, praised the CPR Team for their efforts in getting the deal done.

“Jim Engelmann, with the CPR team, was an integral part to the success of this first closing. He was diligent in his efforts throughout and helped facilitate many constructive conversations with his client, which ultimately helped us get to the finish line. I’ve really enjoyed working with Jim because he helps find solutions and isn’t someone who sits on the sidelines. I know that Ferber will do many more deals with Jim and the CPR team in the future.”

The second phase of the development, which includes 41 acres of residential land, is expected to close by the end of the year.

Commercial Partners Realty is a full service Commercial Real Estate brokerage specializing in Office, Industrial, Retail, Land and Investment sales and leasing. Representing landlords, tenants, buyers and sellers of commercial real estate in Tampa Bay, Pasco County and West Central Florida, they have negotiated hundreds of millions of dollars in transactions in the region.

Commercial Partners Realty is a proud member of the George F. Young corporate family. Our parent company is a full-service professional consulting firm offering engineering, planning, landscape architecture, environmental, and surveying services throughout Florida. Established in 1919, George F. Young, Inc. has been serving the Tampa Bay area and beyond for over 100 years.

No Comments

Commercial Partners Realty Negotiates Sale of 11,000 SF Skyway Marina District Office

Commercial Partners Realty team member Frank Bozikovich represented Almased in the sale of their 11,189 SF office building located at 2861 34th Street S., in St. Petersburg for $1.5 million. The property was purchased by an investor who plans to lease out the office space in the Skyway Marina District. Currently, office space in the growing market is in high demand, with a record-low 1% vacancy rate for the area.

Almased is a private, multinational company that manufactures and distributes dietary supplements worldwide. They have owned and occupied the former bank site for the past 18 years. Almased has decided to consolidate its operations in Charlotte, NC in order to be more centrally located within its distribution area. However, due to the COVID-19 crisis the move has been delayed and Bozikovich has helped the company negotiate a short-term lease with the new owner.

Commercial Partners Realty is a proud member of the George F. Young corporate family. Our parent company is a full-service professional consulting firm offering engineering, planning, landscape architecture, environmental, and surveying services throughout Florida. Established in 1919, George F. Young, Inc. has been serving the Tampa Bay area and beyond for over 100 years.

No Comments

Recent Transactions

The QA Team of Dan Quarles, Austin Karrick and Erica Lovingood continue to have a strong year in 2019. The following are the most recent transactions from Commercial Partners Realty’s Pinellas County Office/Industrial team.

Represented the landlord, Mainstream America, Inc., in the lease of 15,000 SF of flex space in the Petersburg Commerce Center, located at 4055 35th Street N. in St. Petersburg, FL to Sir Speedy Printing.

Represented the landlord, Cheese Popper, LLC, in the lease of a 2,500 SF flex building located at 1920 15th Avenue N. in St. Petersburg, FL.

Represented the buyer, Autism Inspired, in the purchase of a 11,500 SF office, located at 2177 NE Coachman Dr. in Clearwater, FL for $950,000.

Represented the buyer, ENT Associates of St. Pete, LLC in the purchase of a 7,500 SF medical office building located at 501 Dr. ML King Jr. St. S. in St. Petersburg FL for $1,830,000.

Represented the landlord, Mainstream America, Inc., in the lease of 5,100 SF of flex space in the Petersburg Commerce Center, located at 4055 35th Street N. in St. Petersburg, FL to Tampa Bay Tiny Homes.