Sembler, Forge acquire St. Petersburg’s grocery-anchored center

St. Petersburg, Fla. -- The Sembler Company and Forge Capital Partners announced the purchase of Disston Plaza in St. Petersburg, Florida, which will be added to Forge Real Estate Partners III investment fund. The 123,000 sq. ft. shopping center is currently 98% occupied and is anchored by Publix and also includes Bealls Outlet and Dollar Tree.



“Disston Plaza is a perfect fit for our Forge Real Estate Partners III investment fund. Not only is it a great in-fill location in the heart of St. Petersburg, which has been serving the community since the 1960s – and has great long-term redevelopment potential,” said Ron Wheeler, CEO of The Sembler Company.



Forge Real Estate Partners III investment fund now owns seven shopping centers totaling more than 900,000 sq. ft. of leasable area in Florida, North Carolina, and Texas – and the joint venture is actively seeking additional investments in grocery-anchored shopping centers throughout the Southeast.