319 39th Ave N

Two (2) “outparcels” to the new Whole Foods & Starbucks along 4th St N. are now available for Ground Lease or Build to suit.  The addresses are 319 39th Ave N (100 x 127) and 340 40th Ave N (135 x 127).   Both Properties are Zoned CCS-1 (permitting development up to a 0.55 FAR with a maximum Impervious Surface Ratio of 85%)  Both properties will have signage rights on the pylon sign at the corner of 4th Street and 40th Ave N where Starbucks is located.  The other panels on the pylon sign will be occupied by Whole Foods and Starbucks. The 40th Ave parcel is entitled to two panels and the 39th Ave parcel gets one panel on the project sign.  The 2 sites can be combined in the sense that one parcel can be completely utilized for the building to be constructed while the other parcel can be used solely as parking.  Also, There’s a 16’ wide alley between the 2 parcels which can be used as a drive aisle. 

Fourth Street North is the major commercial corridor in St. Petersburg and home to a variety of national and local retailers and service providers. The sites are located in a highly dense residential area with a high barrier to entry. The location is a super strong retail corridor and there are no less than three grocers within 500 feet and six grocers in less than a mile from our sites. The new Whole Foods sits behind our property and one of its access roads borders the northern boundary of our site.  Publix has two locations across the street from one another that are one block south of our site.  Drive another half mile south, and one will pass a Gordon Food Service, Fresh Market, and Trader Joe’s.  Our sites sit directly behind a new Starbucks and all the National QSR’s are in the immediate area. The Tremendously Strong Retail Demand has led to Virtually Zero Vacancy in the immediate area.  Driving this concentration of retail is the tremendous density in the area: 15,000 population within one mile and 110,000 within three miles and a Population of Over 232,500 Within a 5-Mile Radius of the site.  Strong Retail Demand has led to Virtually Zero Vacancy in this submarket.  The site is also less than ten minutes outside of Downtown St. Petersburg.  The sites sit in the middle of 3 of the Top 10 wealthiest zip codes in the Tampa Bay Market based on per capita income.  
The site is perfect for a destination type user looking to be in the heart of Old Northeast in the 4th St corridor in order to take advantage of the synergy created by the strong demos in concert with all the national retailers located in the immediate area.  We envision leasing to Veterinarians, doctors, bank/credit union among other users looking to penetrate the 4th St N submarket that don’t require 4th Street frontage. The visibility and co-tenancy here is as good as it gets without direct 4th Street frontage.