- June 16, 2025
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A Miami real estate investment firm paid $6.12 million May 16 for a fully leased restaurant space in down St. Petersburg.
Torose Equities, along with RKG Holdings and HSH Holdings Co., bought the 9,700-square-foot space at 200 1st Ave. S. that houses a Ford’s Garage restaurant.
The buyers have also leased remaining space to Aji Ceviche, an upscale Latin American restaurant concept.
The property was previously owned by an LLC linked to Tampa-based 23 Restaurant Services which, according to Pinellas County property records, paid $3.9 million for it in 2016.
The space is on a popular corner surrounded by restaurants and bars in a revitalized part of downtown. About three blocks to the east is Pioneer Park and the city’s waterfront. And to the west are two luxury towers under development — the 46-story Residences at 400 Central and the 49-story Waldorf Astoria Residences.
Torose Equities Equity is no stranger to St. Pete real estate. In August, it paid $2.44 million for 14,000 square feet of ground of retail space at Modera St. Petersburg, an apartment tower on 17th Street. At the time, Torose said it had bought 15 properties in the market since 2017 totaling approximately 300,000 square feet of space.
