Connect CRE: Franklin Street Brokers $5M Sale of St. Petersburg Shopping Center

June 22, 2021

Franklin Street has arranged the $5.1 million sale of Central Plaza, a 19,016-square-foot shopping center in St. Petersburg. Located at 3270 Central Ave., the center is currently fully occupied by a tenant roster featuring an average tenure of 22 years… Franklin Street’s Retail Investment Sales Team of Anthony Suarez and Ryan Derriman represented the seller,…

Franklin Street Represents D1 Training in Securing First Jacksonville Location

The athletic training facility, which caters to scholastic athletes, will open near the St. Johns Town Center this fall JACKSONVILLE, FL (June 22, 2021) – Franklin Street has represented D1 Training, a scholastic training and adult fitness facility with locations throughout the country, in securing its first location in the Jacksonville market. The 8,800-square-foot facility…

Tampa Bay Business Journal: St. Pete shopping center gets a makeover for a new era

June 21, 2021

The owner of a St. Petersburg shopping center is planning a large-scale renovation to keep the property competitive with both e-commerce and other retail properties in a post-pandemic world. InvenTrust Properties Inc., a real estate investment trust based in Illinois, has a new vision for Gateway Market Center at 7751-8229 9th St. N in St….

10 Steps Lenders Should Take When Inheriting a Distressed Commercial Real Estate Asset

June 17, 2021

By Chad DeFoor, Senior Director – Investment Sales  When commercial real estate properties go into foreclosure, it is not uncommon for a significant amount of deferred maintenance — not to mention critical Life Safety and Security issues — to accrue. Owners are often simply focused on making their debt service payments, while the asset deteriorates.  Many times, lenders inherit properties upon foreclosure with severe maintenance and life/safety needs that should be addressed promptly to mitigate ownership…

Shopping Center Business: Franklin Street Arranges $5.1 Million Sale of Central Plaza Shopping Center in St. Petersburg, Florida

St. Petersburg, Fla. — Franklin Street has arranged the $5.1 million sale of Central Plaza, a 19,016-square-foot, fully occupied shopping center located at 3270 Central Ave. in St. Petersburg. The property falls within a Qualified Opportunity Zone. Anthony Suarez and Ryan Derriman of Franklin Street represented the seller, a California-based private investor, in the transaction. Read…