Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2019
Building Area
Number of units 368

Property Description

JLL is pleased to present the rare opportunity to acquire Icon Central (the “Property”), Tampa Bay’s most “iconic” multi-housing asset in a class of its own. Completed in 2019, the 15-story luxury tower combines beautifully appointed interiors with sophisticated amenity spaces to deliver a product comparable to the finest hotels and condominiums in Florida.

 

Adding to the Property’s appeal is its ultra-desirable location along Central Avenue in downtown St. Petersburg, an area recognized for its vibrant restaurant scene, lively nightlife, cultural arts, and natural beauty overlooking the St. Petersburg marina and Tampa Bay. As the cultural center and entertainment hub of the greater Tampa Bay MSA, downtown St. Petersburg has become one of the best performing apartment markets in the US, with demand outweighing supply and rental rates rapidly increasing.

 

Icon Central has leveraged its exciting location and impressive physical characteristics to lease-up rapidly and now presents a generational investment opportunity that is positioned to achieve strong rent growth and generate durable cash flows.

Investment Highlights

  • Tampa Bay’s Most Iconic Asset
  • Highly Walkable Location with a 97 Walk Score
  • Sophisticated Amenity Areas Including 5-Star Resort-style Swimming Pool
  • Accelerating Asset Performance with 9.7% Average Increase on Last 47 Leases
  • Strengthening Submarket Fundamentals with Minimal Future Supply Pipeline
  • Easy Access to the MSA’s Top Employment Centers
  • Affluent Resident Base with $231,899 Average HHI


Last Updated Date: 17 May 2021
Matt Mitchell
Matt Mitchell
Senior Managing Director, Tampa Office Head
License details
FL-BK3221815
Zach Nolan
Zach Nolan
Senior Director, Capital Markets
License details
FL-SL3280497

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Last Updated Date: 17 May 2021

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