Patrick Calhoon and Christoffer Calhoon, commercial brokers with Smith & Associates Real Estate, are pleased to announce the $1.8M sale of the Snell Arcade commercial condominium located at 405 Central Ave. in downtown St. Petersburg.
The Snell Arcade was sold by the not-for-profit organization Volunteers of America to Tricera Capital, a Miami-based firm with several other St. Petersburg downtown holdings. The firm states that purchasing this site is an investment for their firm to grow in the St. Petersburg area.
The Calhoons were transaction brokers working with both buyer and seller of the deal. “We were excited to work with both parties and play a role in the growth of another company within the St. Petersburg community,” says Patrick Calhoon.
The 8,582 square foot space is located in the basement of the historical building and has been used for many years as offices by the Volunteers of America. While the existence of this unit is unknown to many people, this spot has had former lives as a restaurant, retail, etc., since the construction of the Arcade in 1927 and retains many of the original art deco era design features.
Smith & Associates Commercial Real Estate Division offers a specialized commercial service approach to help you find the perfect building, investment property, or lease location with efficiency and ease. The in-depth market knowledge, industry experience, and strategic relationships of our Commercial Division is our key to consistent success in the sale or lease of commercial properties in all asset classes.