Park Place office buildings sell for $9.41M

BUYER: G.D.B. Holdings LLC (principals: Gerald, Bradford and Donna Lancaster), Safety Harbor

SELLER: Offices At Park Place LLC

PROPERTY: 83 and 93 Park Place Blvd., Clearwater

PRICE: $9.41 million

PREVIOUS PRICE: $2.5 million, August 2006

LAW FIRM ON DEED: Johnson Pope Bokor Ruppel & Burns LLP, Clearwater

PLANS, DESCRIPTION: Gerald, Bradford and Donna Lancaster of Safety Harbor purchased two office buildings with more than 51,022 square feet of office space for $9.41 million.

The price equated to $184 per square foot.

The 7.39-acre property features a 1-year-old, 25,852-square-foot building and an adjacent 3-year-old, 25,290-square-foot building. The purchase also included a building pad for the construction of 12,400 square feet of additional office space.

The LEED gold certified buildings are 100% leased. Tenants include Brown & Brown Insurance, the General Services Administration of the United States, and TUI Marine.

Mark Klein and Steven Klein of Klein & Heuchan Inc. represented the seller, an affiliate of Hallmark Development of Florida Inc.