Retail space near Rays stadium site sells for $2.4M

A Miami-based real estate investment firm has bought 14,000 square feet of retail space at a downtown St. Petersburg mixed-use development.

Torose Equities paid $2.44 million for the ground floor space at Modera St. Petersburg, a recently completed 20-story, 383-unit apartment tower.

The building is at 201 17th St. South and near where the Historic Gas Plant District will be redeveloped, a project that will include a new stadium for the Tampa Bay Rays.

The retail property, according to a statement announcing the sale, features two spaces that can be divided into as many as eight units, with 17- to 21-foot ceiling heights, 290 feet of frontage along the Pinellas Trail and 14 parking spaces.

Torose, in the statement, says the buy further solidifies its long-term investment strategy in the St. Pete market, where it has been active for several years.

Since 2017 it has bought 15 properties totaling approximately 300,000 square feet in the market.