News Summary
Shumaker has appointed Andrew ‘Drew’ F. Ford as a partner in its St. Petersburg commercial real estate service line. This strategic move showcases the firm’s dedication to expanding its influence in a growing market. With extensive experience in acquisitions, leasing, and financing, Ford aims to enhance the firm’s capabilities as St. Petersburg’s real estate sector experiences a surge in demand. Recent market activities include high-value transactions and ongoing developments that reflect the city’s dynamic property landscape.
St. Petersburg, FL – Shumaker is making significant strides in the St. Petersburg commercial real estate sector by appointing Andrew “Drew” F. Ford as a partner in its real estate, construction, and development service line. This move reflects the firm’s commitment to enhancing its presence in a city where it now employs more than 300 attorneys and advisors.
Ford brings extensive experience to his new role, having worked with various stakeholders including owners, operators, developers, and investment firms. His areas of expertise include acquisitions, dispositions, development, leasing, and financing. In addition, Ford offers outside general counsel services to closely held businesses, focusing on vital aspects such as business formation, governance, and shareholder agreements.
Shumaker aims to capitalize on the growing demand for commercial real estate services in St. Petersburg, a city that has witnessed considerable attention in the real estate market. As the industry expands, the addition of Ford is seen as a strategic choice to navigate the complexities of real estate transactions and advisory services.
Recent Developments in Commercial Real Estate
The commercial real estate landscape in St. Petersburg is buzzing with activities, including several noteworthy transactions. A duplex penthouse at The Residences at 400 Central Ave has been listed for $5.06 million, while a newly constructed home at 1940 Hawaii Avenue NE has recently sold for $5 million. Additionally, the property housing West Park Surgery Center in Pinellas Park was sold for $4.1 million, and the Howard Johnson by Wyndham in Clearwater has been sold for $6.5 million.
On the market, Olive House, a multifamily property in St. Petersburg, is available for $1.06 million, featuring five living units across two buildings. Furthermore, the Enclave at Sabal Point, a 240-unit apartment complex in South St. Petersburg, is also for sale with over $3.9 million in recent capital improvements.
Ongoing Changes and Opportunities
The Home Shopping Network (HSN) has put its St. Petersburg headquarters on the market as part of its restructuring plan. This expansive property covers 65 acres with nine buildings totaling over 487,000 square feet, and is zoned for commercial use. This decision is part of HSN’s consolidation strategy, which will result in the loss of 730 jobs.
In other commercial developments, renowned firm JLL has expanded its operations in Tampa by hiring Bill Reeves as managing director and Doug Waechter as senior associate to strengthen its office tenant representation team. Moreover, Fifth Third Bank has appointed veteran Marty McAndrew to direct its commercial banking efforts across Florida in a newly created role.
Community and Cultural Contributions
In addition to real estate developments, the local community is also celebrating cultural contributions. A documentary showcasing unsung heroes who contributed to Tampa’s recovery from hurricanes is set to debut at Tampa Theatre on June 16. This highlights the resilience of the community in the face of adverse events.
Meanwhile, Hubbard’s Marina, a family business in Madeira Beach, has been recognized as the No. 1 fishing charter in the U.S. for the fourth consecutive year by USA Today’s 10Best Readers’ Choice Awards. This achievement underscores the importance of local businesses in contributing to the economy and community pride.
Additionally, Brazilian brand Uultis is planning to open its first Tampa Bay showroom this summer in collaboration with Annabelle’s Fine Furniture & Interior Design, showcasing the ongoing growth and diversification in St. Petersburg and surrounding areas.
The recruitment of Andrew Ford marks a proactive approach by Shumaker to address the growing demands of commercial real estate in St. Petersburg, emphasizing the city’s flourishing market dynamics and the opportunities that lie ahead.
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Additional Resources
- TBBW Magazine: Andrew Ford Joins Shumaker as Partner
- Wikipedia: Commercial Real Estate
- St. Pete Rising: Downtown St. Pete Development Site Hits the Market
- Google Search: Real Estate Transactions in Florida
- St. Pete Catalyst: Investment Firm Purchases Ford’s Garage
- Google Scholar: Florida Commercial Real Estate
- Business Observer: Commercial Real Estate Transactions
- Encyclopedia Britannica: Commercial Real Estate
- St. Pete Catalyst: Multi-Family Property in Old Northeast
- Google News: St. Petersburg Real Estate News
Author: STAFF HERE TAMPA WRITER
The TAMPA STAFF WRITER represents the experienced team at HERETampa.com, your go-to source for actionable local news and information in Tampa, Hillsborough County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Gasparilla Pirate Festival, Florida State Fair, and Tampa Riverfest. Our coverage extends to key organizations like the Tampa Bay Chamber of Commerce and United Way Suncoast, plus leading businesses in healthcare, finance, and technology that power the local economy such as BayCare Health System, Grow Financial Federal Credit Union, and KnowBe4. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERESTPetersburg.com, and HERETallahassee.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
