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Local investment and management group buys retail center on 4th Street N in St. Petersburg for $2.9

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ST. PETERSBURG, Fla. (Feb. 28, 2020) – HSW Associates Inc., a Tampa Bay property investment and management group, has purchased a retail strip center on St. Petersburg’s popular 4th Street for $2,975,000.

The 7,260-square-foot property is located at 1535-1575 4th Street N. Three tenants fully occupy the space – F45 Training, First American Title and Canvas Fashion Gallery.

Mike Milano, CCIM, MAI; Sean Glickman, CCIM; Chris Smith; and Brandon Rapone, CCIM of Colliers International represented the seller, J Square 4th Street Partners, LLC.
Amy Barrett, CCIM, also of Colliers International, represented the buyer.

“The 4th Street N corridor is one of the hottest retail submarkets in Tampa Bay right now,” said Milano, Executive Managing Director of Retail Investment Services at Colliers International. “All the growth in downtown St. Pete is radiating outward, and 4th Street is benefiting from that, along with redevelopment, and strong demographics and densities that are attractive to retailers.”

HSW Associates is a family owned and operated property investment and management group with over 160 properties in its portfolio. HSW works with local, middle-income entrepreneurs, as well as national brands. With more than 30 years’ operating in the Tampa Bay area, HSW works with a variety of commercial, residential and industrial properties on a long-term basis.

“This property on 4th Street N was a good fit for HSW because it’s in the wheelhouse of the types of properties they acquire and manage,” said Barrett, Director of Retail and Office Services at Colliers International Tampa Bay. “HSW is committed to making long-term investments in the Tampa Bay area and advancing the steady growth of downtown St. Petersburg.”

The property was originally built in 1940 as one of the first auto dealerships in St. Petersburg, Brown Nash Motors. In 2007, J Square acquired the property, which was an antique mall at that time. J Square completely renovated the property into contemporary retail space, restoring its original Art Deco features and attracting an eclectic mix of local and national tenants.

About Colliers International Group Inc.
Colliers International (NASDAQ: CIGI) (TSX: CIGI) is a leading global real estate services and investment management company. With operations in 68 countries, our 14,000 enterprising people work collaboratively to provide expert advice and services to maximize the value of property for real estate occupiers, owners and investors. For more than 20 years, our experienced leadership team, owning more than 40% of our equity, has delivered industry-leading investment returns for shareholders. In 2018, corporate revenues were $2.8 billion ($3.3 billion including affiliates), with more than $26 billion of assets under management. To learn more about how we accelerate success visit corporate.colliers.com, Twitter: @Colliers or LinkedIn.

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