Walton Street Buys Retail Space at Echelon City Center
Walton Street Capital acquired 14,000 square feet of ground-floor retail at the St. Petersburg mixed-use building it already partly owns.
Updated on Nov. 3, 2026 in Commercial
Walton Street Capital purchased 14,000 square feet of retail space at Echelon City Center in St. Petersburg, adding to its ownership of the building's residential portion. The sale, brokered by Tampa-based Franklin Street, was announced Oct. 27 and the price was not disclosed.
Why it matters
The transaction consolidates ownership of a fully leased retail property in St. Petersburg, bringing the ground floor and upper residences under one owner. Leases running through 2031 or later give the space near-term income stability for the new owner.
The 14,000-square-foot ground-floor space in the 15-story building is fully leased to five businesses, including Publix Liquors and Modern Medical. The purchase price was not disclosed by the parties or brokerage.
The players
Walton Street Capital
A private investment firm that already owned the residential portion of the Echelon City Center building and acquired the retail space.
Franklin Street
A Tampa-based commercial real estate brokerage that handled the sale of the retail property.
The details
Third Lake Capital and Echelon partners sold the property, with Chaney and Franklin Street managing director Jason Donald representing the sellers. The retail space, known as Waterview Retail Center, was separately owned from the residences above it and was built in 2021 in Carillon Park.
Timeline
2021: Property was built in Carillon Park.
Oct. 27: Franklin Street announced the transaction.
2031: Several tenant leases extend through this year or later.
Market Landscape
Consolidating separately owned retail and residential components of a mixed-use building under a single owner is a recognizable approach in urban commercial real estate. The deal brings the retail ground floor and the residences above under one investor's control in St. Petersburg.
For St. Petersburg shoppers and businesses, the retail space at Echelon City Center continues operating under existing leases through 2031 or later. Current tenants such as Publix Liquors, Back Bar, and Brothers Thomas Bespoke Café remain in place under the new ownership.
The takeaway
Investors and local businesses should note that the building's retail ground floor now shares ownership with its residential units, which may simplify management of the property. Readers tracking St. Petersburg commercial real estate can watch for further disclosure of the sale price in future filings.
Further reading
For more on local property deals, browse Commercial listings in St. Petersburg.
Source note: This article includes information reported by Tampa Bay Business & Wealth.
