Parcel at old St. Augustine outlet mall sold for $3.4 million

A Daytona Beach restauranteur and club owner is the buyer.


St. Augustine Outlets property east of Interstate 95.
St. Augustine Outlets property east of Interstate 95.
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A group known for dining and entertainment venues in Daytona Beach bought a 2.3-acre site at the demolished St. Augustine Outlets property for $3.4 million on June 26.

PEK Prop St Aug LLC. bought the property at 410 Outlet Mall Blvd. Kyriakos Drymonis is listed as PEK Prop’s registered agent and manager.

He owns Razzle’s bar, Bonkerz Comedy Club and restaurant Oyster Pub on Seabreeze Boulevard in Daytona Beach’s historic district.

New York City-based Lightstone sold the property through LVP St. Augustine Outlets LLC.

A conceptual site plan of the St. Augustine Outlets site at Interstate 95 and Florida 16 in St. Johns County. The property is on the east side of Interstate 95.

Drymonis did not respond to calls or emails seeking details.

It was Lightstone’s second deal in two weeks for property at the former mall. On June 27, it sold land to Thompson Thrift Development Inc., which announced plans to build Terrassa, a 324-unit luxury apartment community.

Thompson Thrift bought the land through TTRES FL St Augustine Outlet Centre LLC. The St. Johns County Property Appraiser does not show the sale price yet.

Tyler Nilsson and Erik Bjornson of Institutional Property Advisors represented Lightstone in that sale.

Lightstone bought the 31-acre mall site in 2006 for $42 million.

St. Johns County issued a demolition permit for the mall June 2, 2022. The application said plans were to redevelop the mall because it “has been struggling for some time.”

Since the demolition, a Texas Roadhouse restaurant opened there in 2023.

Baptist & Wolfson St. Augustine Emergency Room and Imaging Center opened June 17. The estimated $21 million center is on 8.5 acres that Baptist Health Properties Inc. bought in May 2021 for $6.8 million.

 

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