The Real Deal Miami

Developer plans build-to-suit project in St. Pete

Kucera Properties plans to build next to its 28-story Priatek Plaza, the city's tallest office building

October 18, 2015 11:00AM

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Downtown St. Petersburg

Downtown St. Petersburg

Real estate firm Kucera Properties announced plans for a build-to-suit commercial building development in downtown St. Petersburg.

St. Petersburg-based Kucera hired commercial brokerage Cushman & Wakefield to work on the mixed-use development.

According to Kucera, construction would start next year on a third of an acre next to the company’s a 28-story Priatek Plaza at 200 Central Avenue in St. Petersburg, the city’s tallest office building. It has a 90 percent occupancy rate.

The new building in downtown St. Petersburg would encompass a hotel and up to 300,000 square feet for one or two anchor tenants, plus 30,000 to 50,000 square feet of speculative space and more than 600 parking spaces.

The construction cost is estimated to range from $85 million to $100 million. Kucera  said it expects to announce the project’s architect, financing and tenant mix “in the coming weeks.”