St. Petersburg retail property sells for $7.5 million

A two-parcel St. Petersburg retail property has sold.

The property is at 730 Fourth St. N. and brought $7.25 million in a off-market sale.

The sale was announced by SRS Real Estate Partners, which did not disclose the buyer, saying only it was a “national fund specifically targeting multi-tenant retail properties.” Pinellas County records have not been updated as of Thursday afternoon. 

The previous owner, according to records, is an LLC named BCB Properties, which paid $1.2 million in 2004. (The retail properties, according to SRS, were built in 2009.)

The properties, which front 4th Street, total 10,802 square feet and were fully occupied with a tenant mix that includes Foxtail Coffee, UPS, Jimmy John’s, Chipotle and Verizon.

SRS, thus far this year, has completed more 350 transactions nationwide with a deal volume of more than $1.2 billion. It currently has more than 845 properties listed with a market value of over $3.7 billion.

The Dallas firm’s Patrick Nutt and William Wamble represented the seller.