Kirchberger's investor group buys Toledo Blade buildings

BUYER: Golden Key Properties LLC (principal: Andreas Kirchberger), Port Charlotte
SELLER: SOF-VIII-FT Park of Commerce North Port LLC
PROPERTY: 1060 N. Toledo Blade Blvd., 1001 Gateway Ave., 3205, 3255, 2750, 2715, 2735 and 2785 Commerce Parkway and 1000 and 1060 Executive Ave., North Port
PRICE: $1.15 million
PREVIOUS PRICE: $712,400, March 2001; $641,000, June 2005; and $600,000, June 2006
LAW FIRM ON DEED: Henderson Franking Starnes & Holt PA, Fort Myers

PLANS, DESCRIPTION: An investor group led by Andreas Kirchberger purchased the eight office buildings in Toledo Blade Professional Center for $1.15 million.

The price equated to $32 per square foot. That figure is lower than the two-year average price per square foot for office space ($115) in the Tampa Bay area, according to the CoStar Group.

Built in 2007, the buildings included 36,000 square feet of total space with 25,400 square feet of undeveloped interior (grey shell) space, according to broker Paul Forsberg of HG Real Estate Services of North Port. Forsberg handled the transaction and is marketing the buildings for lease.

“We expect to lease them up very rapidly,” he says. “Right now there's a small medical training facility there, a real estate company, title company and a law office. They were bank owned and the problem has been that banks don't want to lease their properties, they just want to sell them. We closed a week ago, and I've had no less than a dozen calls on that property already.”

The vacant space is listed for $9 a square foot net with $2.20 common area maintenance. Tenant improvement incentives are also being offered.

Kirchberger's investor group recently purchased the 24,000-square-foot Placida Plaza and additional development land in Rotonda West for $825,000.