{"id":421535,"date":"2026-10-07T20:50:39","date_gmt":"2026-10-07T20:50:39","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/421535\/"},"modified":"2026-10-07T20:50:39","modified_gmt":"2026-10-07T20:50:39","slug":"major-edge-district-properties-change-hands-in-12-million-sale","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/421535\/","title":{"rendered":"Major EDGE District properties change hands in $12 million sale"},"content":{"rendered":"<p class=\"\" style=\"white-space:pre-wrap;\">The firm\u2019s portfolio includes urban, mixed-use properties, which Garner said made the combination of retail and office space at EDGE Collective a good fit. More traditional retail buyers had passed on the deal because it included office space above the storefronts, he said.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">L3 does not plan to make major changes to the properties. Instead, the firm expects to operate them as an investment and lease the remaining office space while the surrounding district continues to grow.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">\u201cThey\u2019re planning to keep it the way it is,\u201d Garner said. \u201cThey felt like they have the relationships to bring some solid tenants and help add some value.\u201d<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">PTM Partners and <a href=\"https:\/\/www.dovehillcos.com\/\" target=\"_blank\" rel=\"nofollow noopener\">DoveHill Capital Management <\/a>purchased the century-old 1246 Central Avenue building, the adjacent hotel land, and a 0.38-acre surface parking lot along 1st Avenue South in 2019 for $13 million. <\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">The developers renovated the Central Avenue building as part of <a href=\"https:\/\/stpeterising.com\/home\/moxy-hotel-makes-grand-debut-in-the-edge-district-of-downtown-st-pete\" target=\"_blank\" rel=\"nofollow noopener\">the first phase of EDGE Collective<\/a>, which also included the Moxy hotel and a shared courtyard between the two properties.<\/p>\n<p class=\"\" style=\"white-space:pre-wrap;\">The building previously housed Furnish Me Vintage, a longtime furniture and home d\u00e9cor store that closed in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"The firm\u2019s portfolio includes urban, mixed-use properties, which Garner said made the combination of retail and office space&hellip;\n","protected":false},"author":2,"featured_media":421536,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[202,204,203,199,201,200],"class_list":["post-421535","post","type-post","status-publish","format-standard","has-post-thumbnail","category-st-petersburg","tag-st-pete","tag-st-pete-headlines","tag-st-pete-news","tag-st-petersburg","tag-st-petersburg-headlines","tag-st-petersburg-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/421535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=421535"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/421535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/421536"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=421535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=421535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=421535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}