St. Pete resident Michelle Mathis has secured a longterm lease for the former Banyan Café space at 701 Central Ave., next to the Morean Arts Center, for the first Tampa Bay Caribou Coffee

Mathis, who has a background in hotel and restaurant management and is the owner of Wake Up 727, signed a franchise agreement with the Minnesota-based coffee chain in 2022.

“We love the thought of the first local Caribou Coffee location opening in downtown St. Pete – it’s nostalgic and aligns with our culture,” Mathis said.

She is currently renovating the 900-square-foot space, which will have indoor and outdoor seating. She’s expecting to open the shop in the mid-to-late summer and will hire 15 to 20 employees.