Franklin Street brokers multi-million-dollar sale of Publix anchored, multitenant Waterview Retail Center
TAMPA, FL — Franklin Street, a full-service commercial real estate firm serving institutional and private clients nationwide, announced it has brokered the sale of Waterview Retail Center, located at 100 Main St N, St. Petersburg, FL. The retail condominium, built in 2021, was purchased by Walton Street Capital, Franklin Street represented the seller Third Lake Capital and Echelon partners.
“Waterview is a high-quality asset in one of Pinellas County’s thoroughly developed employment areas,” Jason Donald, managing director, Franklin Street, said. “The property has long-term potential, and this transaction exemplifies the type of asset that investors are seeking out; Class A, mixed use, and well located in a market that is experiencing growth.”
The 14,000 square foot Class A property was acquired by the owner of the residential tower above. Located on the ground floor of a 15-story mixed-use building within Echelon City Center in Carillon Park, the condominium is currently 100% leased to five tenants: Publix Liquors, Back Bar, Feathersound Smiles, Modern Medical, and Brothers Thomas Bespoke Café. Several leases extend through 2031 or beyond, providing long-term income stability and serving as a key component of the investment thesis.
“When you’re structuring a condominium retail deal, you have to look at the ownership structure just as closely as you look at the property itself,” Madison Chaney, senior associate, Franklin Street, said. “Finding the right buyer who truly understood the building was key. By getting the right information in front of qualified groups, we ultimately brought the deal full circle with the building’s owner.”
Donald and Chaney represented the seller in the transaction.
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About Franklin Street
Franklin Street is a privately held, full-service commercial real estate services firm headquartered in Tampa, Florida. The firm provides tailored solutions nationwide, serving owners, occupiers, and developers through Capital Markets, Insurance Services, Leasing, and Management. Founded in 2006, Franklin Street has a network of industry-leading brokers and capital partners across the country to ensure exceptional client service. Learn more about Franklin Street.