Beach side plaza sold for $5.85M to become mixed use development

A Broward County investor has bought a shopping center just off the Gulf of Mexico and plans to build residences and retail.

By Louis Llovio
| 2:40 p.m. July 5, 2023
| 0 Free Articles Remaining!

Treasure Island Plaza at 118 107th Ave. in Treasure Island has sold to a Broward investor who plans to build a mixed use development.

Tampa Bay-Lakeland

A Broward County private investor has paid $5.85 million for a beach side shopping center in Pinellas County and plans to redevelop the property.

The buyer is Shlomo Melloul and he has picked up Treasure Island Plaza at 118 107th Ave. in Treasure Island, north of St. Pete Beach. The plaza is just off of the Treasure Island Causeway, about a quarter mile east of Gulf Boulevard and the historic Thunderbird Beach Resort.

Marcus & Millichap, which brokered the deal, says Melloul plans to redevelop the 1-acre property into a mixed-use development with 40 residential units and 12,000 square feet of ground floor retail.