St. Pete office building filling with new, expanded leases

More than 23,500 square feet of office space has been leased in the last two months at Wells Fargo Plaza, formerly Wachovia Plaza, on Second Avenue in downtown St. Petersburg.

The increase in leasing activity includes a combination of both new and existing tenants, according to CNL Commercial Real Estate, which leases and manages the 185,674-square-foot Class A building.

In May, litigation firm Buckley Zinober & Curtis PA relocated its St. Petersburg law offices, taking 5,057 square feet on the 12th floor.

Other tenants to renew or expand leases at the building include:

• Investment firm Manning & Napier expanded its offices an additional 3,561 square feet and now occupies 10,448 square feet in the building.
• The Appleton Group, a company that offers legal and accounting services and education, renewed and expanded its offices to 2,725 square feet.
• Existing tenants Paradise Advertising & Marketing; financial services firm Stephens; Aspen Marketing Services and CoreLogic all renewed their existing office leases, collectively totaling 12,343 square feet.

Katie Trott, a vice president at CNL Commercial Real Estate, spearheads leasing at Wells Fargo Plaza.

Sienna Bay Apartments sell for $19.5 million

Harbor Group International LLC announced that an affiliate of the company acquired the 276-unit Sienna Bay Apartments for $19.5 million.

The property at 10501 3rd St. N in St. Petersburg was built in two phases in 1974 and 1985. The complex features one-, two- and three-bedroom units

Health Department takes 19,000 SF in Pinellas Park

The Florida Department of Health has signed a 19,000-square-foot lease at the Gandy Center, 3491 Gandy Blvd. in Pinellas Park.

Erik Anderson and Scott Clendening of landlord Commercial Partners closed the deal, which included a number of new government requirements, culminating in final approval by Gov. Rick Scott

This lease increases the occupancy of the office center to 60 percent. The tenants in place are medical and legal professionals.

Phillips Edison-ARC acquires Haines City plaza for $10.1M

Phillips Edison-ARC Shopping Center REIT Inc. announced it has acquired the St. Charles Plaza, a 65,000-square-foot shopping center in Haines City, for approximately $10.1 million. The shopping center is anchored by Publix Supermarket, which occupies 45,600 square feet on a long-term lease through October 2027. Other tenants include Verizon Wireless, Crispers, Publix Liquor and Hair Cuttery.

Cincinnati-based Phillips Edison-ARC invests primarily in necessity-based neighborhoods and community shopping centers throughout the United States with a focus on well-located, grocery-anchored shopping centers.

Out-of-town deals

• Marcus & Millichap Real Estate Investment Services announced the sale of a Rite Aid Pharmacy in Toccoa, Ga., for $3,795,000, said Bryn Merrey, vice president/regional manager of the firm's Tampa office.

• Tampa-based Franklin Street's Atlanta office closed two new construction deals for a Dollar General in Fort Pierce and a Family Dollar in Fort Worth, Texas.

Both deals were sold for less than $1.4 million each with a combined square footage of more than 17,000.

"Dollar stores are attractive to both real estate investors and consumers because they continue to exceed sales expectations as the economy is not dramatically improving for most people, especially in hard hit areas like Florida,” said Mac McCall, regional managing director of real estate services at Franklin Street. McCall and Bryan Belk brokered the deals for the seller.

Staff Writer Mark Holan covers commercial real estate, transportation and ports. Reach him at markholan@bizjournals.com 813.342.2468.