X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.