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08/20/2021

InvenTrust to remake and right-size center in St. Petersburg

Al Urbanski
Real Estate Editor & Manager
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Gateway Market Center in St. Petersburg is being reconstructed with more restaurant and outdoor dining space and smaller stores.

InvenTrust, owner of 60-plus grocery-anchored and outdoor centers, announced plans to demolish 60,000 sq. ft. of space at Gateway Market Center in St. Petersburg and right-size spaces for tenants.

Two new anchor-sized buildings will be constructed and three new buildings for small shop tenants and restaurants will be added.  Two outparcel buildings will be outfitted with large sidewalks and an outdoor seating area.

“This redevelopment will right-size retail stores, improve the connectivity within the site, and provide numerous shopping center enhancements that elevate the overall customer experience," said InvenTrust VP of construction and development Dave Joss.

Publix and Target renovated their stores at Gateway, and Home Goods and Five Below recently moved into space vacated by a long-time tenant.

InvenTrust intends to fill the new space casual dining and quick-service restaurants, as well as smaller retailers in shops up to 10,000 sq. ft.

Gateway Market Center, located north St. Petersburg with access to US-92, is one of several center renovations being undertaken by the company in its Sun Belt markets