ST. PETERSBURG – Colliers International Tampa Bay has handled the sale of Marina Village, a 61,791-square-foot shopping center near the Skyway Bridge, for $6.2 million.
The 6.6-acre retail property, built in 1985, is located in the Skyway Marina District, a city-designated district in the southernmost part St. Petersburg, which has significant redevelopment potential. The city created the district in 2013 to create a more contiguous retail corridor along 34th Street S, which sees upwards of 67,000 cars per day.
Ron Schultz, director of retail investment services with Colliers International Tampa Bay, represented the seller, PV-Marina Village, LLC, an affiliate of Paradise Ventures, a Pinellas County-based commercial real estate and development firm. The buyer, Suateur LLC, is a private retail investor based in St. Petersburg that owns several retail properties around Tampa Bay.