MIAMI AND ST. PETERSBURG, FL – Aug. 5, 2020 – Tricera Capital, the Miami-based real estate investment firm, completed the extensive renovation of a historic commercial building on Central Avenue in St. Petersburg’s emerging Edge District. The firm is marketing the top two floors of the boutique building for lease and is already generating strong interest.
The 1110 Central Ave. building is one of numerous real estate assets Tricera owns on the block, which is the city’s main pedestrian thoroughfare. Tricera has a portfolio of more than 10 properties in downtown St. Petersburg.
Tricera embarked on a gut renovation of the building’s upper floors, creating nearly 8,000 square feet of modern office space with open floor plans. The two available floors can be customized for tenant buildouts. The firm also freshened up the building’s exterior.
Full-floor tenants also have the opportunity to secure prominent signage in multiple locations on the building.
“This office space is positioned perfectly for the post-COVID era,” Tricera Co-Founder and Managing Principal Scott Sherman said. “Companies are increasingly looking to occupy full-floor office spaces with their own bathrooms and common areas to limit exposure to others. The building, with two entire floors available to be leased individually, is a great fit for a broad range of creative and entrepreneurial tenants.”
Shortly after launching in early 2017, Tricera identified downtown St. Petersburg as a market with untapped potential. It identified several underperforming assets prior to entering the market and moved quickly to acquire and reposition the properties, attracting quality tenants and driving rent growth.
“Downtown St. Petersburg is experiencing tremendous office growth, fueled by increased residential density and out-of-town companies relocating their corporate headquarters from New York and other markets,” Tricera Co-Founder and Managing Principal Ben Mandell said. “Companies like Dynasty Financial Partners are recognizing that the city offers incredible lifestyle and financial benefits, along with a deep talent pool of professionals to recruit from.”
Tricera’s Justin Lustig is overseeing leasing at the building. He can be reached at email@example.com.
For more information, visit www.triceracap.com.
About Tricera Capital: Miami-based Tricera Capital is a real estate investment firm focused on value-add, urban retail, office and mixed-use investments and developments throughout the United States. Since launching in 2017, Tricera’s principals have leveraged their institutional real estate experience, relationships and entrepreneurial spirit to create off-market opportunities and quickly amass a portfolio in select target markets. The principals are seasoned real estate professionals with deep track records of success in deal sourcing, acquisitions, syndication and leasing. Their experience enables Tricera to strategically identify and execute on deals, and move swiftly to create value by repositioning assets and upgrading the tenancy to deliver superior returns to investors. For more information, visitwww.triceracap.com.