Warehouse Arts District Development Site_Property for Sale

7th Ave S, St. Petersburg, FL, 33705, US

Warehouse Arts District Development Site

Asset Description

JLL is pleased to offer the sale of the Warehouse Arts District Development Site, a premier land site alongside I-275 located in the Warehouse Arts District of Downtown St. Petersburg. The ±5.50-acre site provides an exclusive location within Downtown and is best positioned for a premier multifamily development.

This premier Warehouse Arts District site is located just 0.6 miles from St. Petersburg‘s Central Avenue, a major thoroughfare with abundant entertainment, restaurants, and nightlife that directly connects Downtown to St. Petersburg Beach (ranked #1 in the U.S. by TripAdvisor). The site is also within a 20-minute walking distance to major attractions including Tropicana Field, which recently announced it will anchor within the 86-acre Historic Gas Plant masterplan redevelopment as the home for the MLB‘s Tampa Bay Rays.

Downtown St. Petersburg is a diverse and thriving commercial market. From high-tech startups to corporate headquarters, the area is home to 4.2M sq. ft. of office space (26,000 employees & 2,818 businesses). Moreover, St. Petersburg‘s growing reputation as a cultural hub further enhances the desirability of commercial real estate in the market. Additionally, the Warehouse Arts District Development Site offers convenient access to the metro‘s major employment hubs, such as the Gateway Business District, which is home to the region‘s top employers and corporate headquarters including Raymond James Financial, Home Shopping Network, TD Synnex, and Jabil, supporting more than 2,700 businesses and 114,000 employees. The site is also within 30-minute drivetime of Downtown Tampa and the Westshore Business District, home to nearly 185,000 combined employees and over 30M sq. ft. of office space.

...

Attributes

Land area gross

2.23 ha

Media

Investment Highlights

LIMITED INVENTORY AND HIGH DEMAND

The Downtown area has limited available land for new developments, which has resulted in high demand and an opportunity to develop in a competitive real estate market.

STRONG RENTAL MARKET

With the growing popularity of Downtown living, the rental market in St. Petersburg remains robust, with fundamentals poised to out perform for the foreseeable future.

STRATEGIC AND CONVENIENT LOCATION

Extremely walkable to an abundant amount of restaurants and retail, including Urban Stillhouse and the Duncan McClellan Gallery, as well as St. Petersburg’s Edge District– a lively neighborhood known for its eclectic mix of locally-owned shops, galleries, breweries, and restaurants.

MAJOR EMPLOYERS WITHIN 2 MILES

Including St. Anthony’s Hospital, Bayfront Health Hospital, Johns Hopkins All Children’s Hospital, Tropicana Field, and the University of South Florida-St. Petersburg Campus.