MVP Restaurant Partners buys land north of State Road 70

BUYER: MVP Lakewood Ranch LLC (principals: Robert Basham and Nicholas Reader), Tampa
SELLER: Chicken Dinner LLC
PROPERTY: 5484 and 5474 Lena Road, Bradenton
PRICE: $1.48 million
PREVIOUS PRICE: $607,000, July 2013
TITLE FIRM ON DEED: Barnes Walker Title Inc., Bradenton

PLANS, DESCRIPTION: MVP Restaurant Partners purchased 10 acres of vacant land in Creekwood East Corporate Park for $1.48 million.

The price equated to $147,384 per acre. That figure is lower than the two-year average price per acre for retail land ($893,571) in the Tampa Bay area, according to the CoStar Group.

The property, located north of State Road 70 and east of Interstate 75, will likely be developed into a PDQ fast food restaurant. MVP Restaurant Partners opened its first PDQ restaurant in Sarasota at 5164 S. Tamiami Trail.

Calls to the company were not returned prior to deadline.

The Tampa-based restaurant group has 15 open restaurants and another nine restaurant locations outside of Florida scheduled to open sometime in the near future.