Make us your home page
Instagram

Key gateway property on Clearwater Beach up for sale for $30 million

Tampa physician Kiran Patel is shopping around a key 2.9-acre gateway property on Clearwater Beach.

While Patel is willing to hear joint venture proposals, the asking price to buy the site outright is about $30 million, said Jerry Lamb, regional director for Coldwell Banker Commercial which has the listing.

"I have not decided to sell, only seek genuine partners with experience and the wherewithal to do a project this complicated," Patel said. "Of course, I would consider selling if the price was right."

Patel paid more than $40 million to assemble and clear the property in the boom times of 2004 to build a landmark hotel. Now a parking lot, the S Gulfview Boulevard property just north of the new Hyatt Regency Clearwater Beach Resort once contained four hotels, including the Spyglass and a Day's Inn.

City officials envisioned the hotel as part of their ambitious plan to upgrade Clearwater's biggest tourist magnet, which has fallen behind the amenities found in other competitive Florida beach destinations.

Patel had talked with Marriott International about a franchised 350-room hotel with 75 condo units for the property, zoned for a 450-room hotel, before the recession, a tourist slump and the credit freeze.

Key gateway property on Clearwater Beach up for sale for $30 million 02/23/10 [Last modified: Tuesday, February 23, 2010 9:42pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Target Corp. reaches $18.5 million settlement with 47 states over data breach

    Retail

    Target Corp. has agreed to pay Florida $928,963 out of a newly-announced $18.5 million settlement over a huge data breach that occurred in late 2013.

    Forty-seven states and the District of Columbia have reached an $18.5 million settlement with Target Corp. to resolve the states' probe into the discounter's massive pre-Christmas data breach in 2013. 
[Associated Press]
  2. Gov. Rick Scott's family history of alcohol abuse could decide 'liquor wall" bill

    Legislature

    TALLAHASSEE — Gov. Rick Scott must decide Wednesday whether to let Walmart and other big-box stores sell liquor, and he says a factor in his decision is the history of alcohol abuse in his family.

    Florida Governor Rick Scott is considering a veto of a bill that would allow Walmart, Target and other big box retail stores to sell liquor. [Andres Leiva | Tampa Bay Times]
  3. As St. Petersburg's Jabil Circuit broadens its business, it shrinks its name to Jabil

    Corporate

    St. Petersburg's Fortune 500 company, Jabil Circuit, informally tossed aside the "Circuit" in its name some time ago. That's because circuit board manufacturing, the company's core business for decades, has been squeezed out by a broader business agenda ranging from consumer packaging to supply chain management.

    Jabil Circuit informally dropped "Circuit" from its marketing material and signage, like at its St. Petersburg headquarters, years ago. Now it's official.
[Times file photo]
  4. Kahwa Coffee to open second drive-thru store in St. Petersburg

    Retail

    Kahwa Coffee will open its 12th location and fourth with a drive-thru in a former "farm store" in St. Petersburg.

    Kahwa Coffee will open its 12th location and fourth with a drive-thru in a former "farm store" in St. Petersburg.
[Times file photo]

  5. John Morgan 'prepared to invest $100M' in medical marijuana

    State Roundup

    John Morgan spent nearly $7 million pushing two statewide ballot initiatives to expand medical marijuana throughout the state of Florida.

    Personal injury lawyer John Morgan says he's ready to invest $100 million in medical marijuana. [SCOTT KEELER | Tampa Bay Times]