Joseph Keough Of Wood Partners Acquires Office Property In St. Petersburg For $22.5M

The office property located at 11101 Roosevelt Boulevard North in St. Petersburg encompasses 5.75 acres and comprises 167,581 square feet. The sale price for this asset was $22,500,000, equating to $134 per square foot. The property previously served as the headquarters for Bankers Financial Group.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $22,500,000
• Buyer: Joseph Keough - Wood Partners
• Seller: Jason E. Fox - WP Carey
• Square Footage: 167,581
• Price per Square Foot: $134
• Acres: 5.75

Joseph Keough represents Wood Partners in the acquisition, while Jason E. Fox represents WP Carey as the seller. Wood Partners plans to demolish the existing structure and develop a new residential project known as Alta Roosevelt, consisting of 381 apartment units, with 153 units designated for tenants earning up to 120% of the area median income.