A five-story office building in St. Petersburg has been sold.<\/p>\n
The building, at 1700 66th St. N. in a busy commercial district near Tyrone Square Mall and U.S. Highway 19, is known as Tyrone Tower.<\/p>\n
The buyer is a local investor named Posterity Real Estate Holdings, according to Pinellas County records. It paid $8.75 million for the five-story, 78,205-square-foot building.<\/p>\n
The previous owner was Kennedy Investments in Tampa. It bought the property in 2018 for $2.85 million.<\/p>\n
The building, according to a statement, is 88.6% leased to 27 tenants \u2014 mostly in the medical and professional service fields \u2014 and includes full build-out office suites, controlled access, 24-hour security, outdoor seating and 260 surface parking spaces.<\/p>\n
County property records show it was built in 1981.<\/p>\n
The statement says the new owner plans to reposition Tyrone Tower \u201cto Class A standards capitalizing on the building\u2019s strong fundamentals: high occupancy, stable tenant base, flexible office configurations, ample parking and walkable amenities.\u201d<\/p>\n
Details of just what its plans, or how much it plans to spend, were not immediately available.<\/p>\n
The transaction was brokered by Jason Teabout and Julie Mastry of the Mastry\/Teabout Group with Smith & Associates Real Estate.<\/p>\n
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