New York investment firm buys Visionworks building

BUYER: VWPRF LLC (principal: Shimon Eckstein), New York City

SELLER: 6341 Tacoma Dr. Holdings LLC

PROPERTY: 9644 Scenic Drive, Port Richey

PRICE: $1 million

LAW FIRM ON DEED: K&L Gates LLP, Dallas

PLANS, DESCRIPTION: A private investment group headed by New York City-based Eckstein Properties purchased a 6,750-square-foot Visionworks building for $1 million.

The price equated to $148 per square foot.

Visionworks has been leasing and operating from the building for the past 15 years and has another five years left on its lease. The lease requires Visionworks to pay all taxes and perform maintenance and repairs.

Cynthia Shelton and Mike Milano of Colliers International Tampa Bay represented the seller and Barry Goldstein of Goldstein Commercial Properties Inc. represented the buyer.

“Visionworks seems to be doing well from that location and is considered from the investment community to be a very desirable tenant,” Milano says. “This was a 1031 exchange buyer that liked the real estate and location.”

The purchase entity VWPRF LLC mortgaged the property to Capital City Bank for $600,000.