Restaurant Depot redeveloping Sherwin-Williams site

BUYER: JMDH Real Estate of Largo LLC, College Point, N.Y.

SELLER: The Sherwin-Williams Co.

PROPERTY: 8750 Enterprise Drive, Largo

PRICE: $1.38 million

PREVIOUS PRICE: $1 million, January 2005

PLANS, DESCRIPTION: College Point, N.Y.-based Restaurant Depot purchased the 40,122-square-foot former Sherwin-Williams Largo building for $1.38 million.

The price equated to $34 per square foot.

The new owner plans to demolish the building to develop a restaurant owner/chef-focused warehouse club on the 5.25-acre site. The new building will have 55,000 square feet and will be nearly identical to the company's existing Tampa store on 50th Street.

“We're always looking for areas with a nice density of restaurants,” Rich Danieli, regional vice president of Restaurant Depot. “We plan to open this one next year.”

The new store, which will employ 50 people, will be the company's ninth store in Florida. It has 91 nationwide.

Pat Marzulli of Colliers International Tampa Bay represented the seller, Sherwin-Williams Corp.