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Business Observer Tuesday, Feb. 1, 2022 10 months ago

Sundial in St. Petersburg sold, according to City Council documents

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The downtown lifestyle center sold to a Safety Harbor developer, says agenda item for Feb. 10 meeting.
by: Louis Llovio Commercial Real Estate Editor

ST. PETERSBRUG — The Sundial complex in downtown St. Petersburg has been sold, according to an agenda item for a Feb. 10 City Council meeting.

According to the item, city officials have been notified that the center, at 153 Second Ave. N., is in the process of being sold and that the “closing on the property is scheduled for mid-February 2022.”

The buyer, according to the agenda item, is PV-Pelican Walk, an LLC whose address on the Florida Division of Corp.’s website matches that of Safety Harbor developer Paradise Ventures.

The company did not immediately respond to a request for comment seeking details of the purchase.

The current owner, Bill Edwards, has confirmed the sale, according to a published report.

City Council’s role in the sale is what to do about a parking garage agreement it has with the current owner. The city and the ownership entered into the agreement in 2012 “to assist in sustaining Sundial as a premier retail/entertainment destination for our community.”

According to the agreement, the current owner is allowed to assign the garage to new owners in the event of a sale. But that assignment requires the approval of the St. Petersburg City Council. According to the agenda item, council’s “consent will not be unreasonably withheld.”

The Sundial, according to its website, is an 85,922-square-foot lifestyle center that includes retail, dining and entertainment. The center is about a five-minute walk from the St. Pete Pier.

 

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