Scott Sherman Of Torose Equities Acquires Retail Property In St. Petersburg For $6.12M

The transaction involved a retail property located at 200 1st Avenue South in downtown St. Petersburg. The asset comprises a total of 9,700 square feet and was sold for $6,120,000, equating to a price per square foot of $631. This fully leased restaurant property is currently occupied by Ford’s Garage and Aji Ceviche and is situated near significant developments and the city’s waterfront.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $6,120,000
• Square Footage: 9,700 SF
• Price Per Square Foot: $631
• Buyer: Scott Sherman - Torose Equities; RKG Holdings; HSH Holdings Co.
• Seller: Marc Brown - 23 Restaurant Services
• Last Sold Price: $3,900,000
• Year of Last Sale: 2016

In this transaction, Scott Sherman represented Torose Equities, alongside RKG Holdings and HSH Holdings, acquiring the property from Marc Brown, who represented 23 Restaurant Services. The combined effort of these companies enabled the acquisition of a property ideally positioned in a developing area.