Leaders of Dallas-based investment firm 90Ten are bullish on St. Petersburg.
The company acquired three properties on Central Avenue in December 2025. Another retail block was purchased Wednesday in the EDGE District for $8.5 million.
The assets are: 965 Central Avenue, 1025 Central Avenue, 1027 Central Avenue, 1029 Central Avenue, 1033 Central Avenue, 1037 Central Avenue and 1041 Central Avenue. Tenants include Ashe Couture Boutique, Matter of Fact, Sans Market, Poppo’s Taqueria and Pure Green.
With the two recent acquisitions, 90Ten has invested $18.5 million in local real estate.
“We love the look and feel of the retail,” 90Ten managing partner Tripp Russ said. “We don’t want to tear anything down or go vertical.”
The 90Ten team plans to keep the current tenants. He added that the former Flagship Bank property (965 Central Avenue) will eventually be leased as well. While 90Ten leaders plan to keep their “options open,” Russ believes a retailer, gym or restaurant would be a good “fit” for the space.
An aerial showing the St. Petersburg properties owned by 90Ten. Photo provided.
Russ and his colleagues also plan to acquire the parking lot and grass area between the vacant Flagship Bank building and the Ashe Couture site (1027 Central Avenue) in the future. The team is working with the seller and the City to determine plans for the property.
Central Avenue’s “long-term potential” was a key factor in the recent acquisitions.
“There’s not a lot of streets like this in the country,” Russ said. “When you have something so walkable that has the charm of the retail that Central Avenue has, it’s just a great recipe for us as buyers.”
Founded in 2023, 90Ten is a private equity firm designed for commercial real estate brokers. The company allows brokers to invest in deals they help close. Before starting 90Ten, Russ was a broker.
The December acquisitions of 1110 Central Avenue, 1122-1128 Central Avenue and 1114 Central Avenue were 90Ten’s first investments in the Tampa Bay area. These buildings house tenants such as Enigma, the Candle Pour and Sweetgreen. “We want to maintain what makes this area feel so special,” Russ explained. “We’re excited to hopefully buy more.”
Currently, the team is working on projects in Tampa, Orlando and Jacksonville as well.