EDGE Collective<\/a> development in the EDGE District, which includes the recently opened Moxy Hotel. The project has a second phase planned, which will include over 350 multi-family rental units and additional retail space. \u00a0<\/p>\n\u201cUrban core real estate is really important to us,\u201d said 90Ten managing partner Tripp Russ. \u201cCentral Avenue is an important market for us to focus on because we feel like we can really contribute to that neighborhood a lot given our experience, background and relationships.\u201d\u00a0<\/p>\n
The deal has been in the works for only a few months. Once Russ and his colleagues were informed that the properties were on the market, they made a decision \u201cvery quickly.\u201d<\/p>\n
\u201cWe love markets like Central Avenue where you can buy an asset like this, and it\u2019s very embedded into the community and the neighborhood,\u201d Russ explained. \u201cWe always want to do right on behalf of these trade areas where we are buying real estate. This checked a lot of boxes for us.\u201d\u00a0<\/p>\n
The team is in talks with national and local retailers to fill out remaining vacancies. \u201cWe\u2019d love for the tenants that are there today to be there long-term,\u201d he added. Additionally, 90Ten does not plan to redevelop the site.\u00a0<\/p>\n
Founded in 2023, 90Ten is a private equity firm designed for commercial real estate brokers. The company\u2019s model allows brokers to have a stake in deals they help create. Russ was a broker himself before he founded 90Ten.<\/p>\n
He explained that firm is investing heavily in Florida and Texas real estate. The team is \u201cexcited\u201d about the Tampa-St. Petersburg market and \u201cactively working\u201d on acquiring additional properties in the area.\u00a0<\/p>\n
The purchase is 90Ten\u2019s first in the Tampa Bay market and follows the recent acquisition of an asset on South Congress Avenue in Austin, Texas.<\/p>\n
90Ten website\u00a0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Three mixed-use retail properties on the 1100 block of Central Avenue now have a new owner.\u00a0 Dallas-based investment…\n","protected":false},"author":2,"featured_media":71759,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[202,204,203,199,201,200],"class_list":["post-71758","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\/71758","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=71758"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/71758\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/71759"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=71758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=71758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=71758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}