Meridian Gateway Center has been sold to California based Avistone Development for $11.5 million. The four Class-A flex warehouse buildings total 165,000 square feet and is located at 3320-3380 Scherer Drive St. Petersburg. Clearwater based Meridian Development Group paid $9 million for the property in 2006 and spent $700,000 on upgrading the facility, which is currently 87 percent leased. Rick Brugge, a director at Cushman & Wakefield, represented Meridian in the transaction.
