Truett Realty Group Closes on CRA Site for Tesla Facility in Florida

Truett Realty Group has received unanimous approval to redevelop a 4.2-acre site in St. Petersburg, Florida, into a Tesla sales, service and delivery center. The site is located in a community redevelopment area, and is expected to catalyze other redevelopment projects as well as permanent high-paying jobs for the community.

“There is a huge tech presence in St. Petersburg, and a lot of companies have relocated there. This particular site is 102,000 square feet in total, and that gave us a pretty unique opportunity to achieve speed to market,” Rob Truett, a principal at TRG, tells GlobeSt.com. “That is always a huge advantage. It also lends itself to an adaptive reuse or redevelopment because there is limited land in infill locations. We always try to find opportunities with these types of strong fundamentals. This site checked a lot of those boxes.”