Investor buys Placida Plaza, additional development land

BUYER: Golden Key Properties LLC (principal: Andreas Kirchberger), Port Charlotte
SELLER: BMR Funding LLC
PROPERTY: 31 Chailett Road, Units 1-20, A and B and 8121 Gasparilla Road, Rotonda West
PRICE: $825,000
PREVIOUS PRICE: $225,000, April 2004
LAW FIRM ON DEED: Law offices of Dean Hanewinckel PA, Englewood

PLANS, DESCRIPTION: Foreign investor Andreas Kirchberger purchased the 24,000-square-foot Placida Plaza and additional development land for $825,000.

The price equated to $34 per square foot for Placida Plaza. That figure is lower than the two-year average price per square foot for retail space ($140) in Southwest Florida, according to the CoStar Group.

The 6-year-old retail center was 17.85% occupied at the time of sale. Its only two tenants were Pig N Whistle and Borci Real Estate.

Ashley Bloom and Chris Malkin of Sperry Van Ness Florida Commercial Real Estate Advisors represented the seller and Paul Forsberg of HG Real Estate Services represented the buyer.

Kirchberger, who is from Germany, currently lives in Canada. He is moving to the United States.

Bloom says the previous owner, BMR Funding LLC, was focused on selling the building, not leasing it. He expects the new owner will be much more aggressive in marketing the center.

“The buyer was attracted to the price point and lives fairly close to the asset so he believes he can work to develop the center,” Bloom says in an email to the Business Observer. “The new owner may develop the outparcel for the existing tenant Borci Real Estate.”

The sale also includes a building pad for the future development of a 4,800-square-foot structure and 0.79-acre vacant parcel.

The buyer is looking to acquire additional real estate in the area, he says, and is contracted to buy a property in Venice.