REBusinessOnline

Tricera Capital Purchases ICON Central Retail Space in St. Petersburg for $11.1M

Icon Central

ICON Central is a mixed-use development in St. Petersburg, Florida.

ST. PETERSBURG, FLA. — Tricera Capital has acquired a ground-floor retail space at Related Group’s recently completed ICON Central, a mixed-use development in St. Petersburg. The transaction totaled $11.1 million and included the adjoining Union Trust Bank building. In total, the ground-floor retail space and historic bank building span nearly 35,000 square feet of rentable space. Related Group was the seller.

Currently, about 7,000 square feet of the retail space is leased to BurgerFi and Watts Dental, which are open now.

Related Group constructed the 368-unit ICON Central on an entire city block along Central Avenue. As part of its redevelopment, Related renovated the bank building, which was originally constructed in 1926, for commercial use.

Scott Wadler and Alec Fox of Berkadia arranged $9.9 million in acquisition financing on behalf of Tricera. Money360 provided the financing.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Midwest Multfiamily & Affordable Housing Business

Western Multfiamily & Affordable Housing Business

Texas Multfiamily & Affordable Housing Business

Southeast Multfiamily & Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews