Kolter Group closes on St. Pete parcel for future mixed-use project

BUYER: KT First & First LLC (The Kolter Group), West Palm Beach
SELLER: Tropicana Block St. Pete LLC
PROPERTY: 25 Second St. N., St. Petersburg
PRICE: $17.25 million
LAW FIRM ON DEED: Gunster Yoakley & Stewart PA, West Palm Beach

PLANS, DESCRIPTION:
West Palm Beach's The Kolter Group has purchased a 41,000-square-foot office building across from the Hampton Inn & Suites St. Petersburg/Downtown for $17.25 million.

Kolter acquired the downtown block, bordered by Central and First Avenue North, from The Edwards Group with plans to demolish the former Floronton Hotel building to create a new two-tower mixed-use project.