Tuesday, November 21, 2017
Business

Former owner of Sirata Beach Resort purchases two Tampa Bay shopping centers

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ST. PETERSBURG — After selling the Sirata Beach Resort and Conference in February, Nicklaus of Florida, Inc., has purchased two Tampa Bay shopping centers to diversify the firm's portfolio in the area. Colliers International, representing the sellers, announced the transaction this week.

The separate deals include the 15,078-square-foot property on Fourth Street North in St. Petersburg for $7.2 million and a newly-constructed, Publix-anchored, 74,300-square-foot center in Riverview for $21.7 million.

PREVIOUS COVERAGE: Texas-based company buys St. Petersburg's Sirata Beach Resort and Conference Center

Earlier this year, Gregg Nicklaus, the CEO of the St. Petersburg-based private real estate investment group, expressed concern with local restrictions imposed on St. Pete Beach hotels. He argued the limits made it hard for St. Pete Beach hotels to compete with newer hotels in Clearwater Beach. The Nicklaus family sold one of the last Tampa Bay family-owned beach hotels for $108.19 million to Texas-based Crescent Real Estate LLC.

Contact Tierra Smith at tsmith@ tampabay.com or (414) 702-5006. Follow @bytierrasmith.

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