MVP Restaurant Partners buys land for Sarasota PDQ

BUYER: PDQ South Sarasota LLC (Captiva MVP Restaurant Partners LLC and Nick Reader), Tampa

SELLER: Redfish II LLC

PROPERTY: 5160 S. Tamiami Trail, Sarasota

PRICE: $1.35 million

PREVIOUS PRICE: $6.75 million, November 2009

LAW FIRM ON DEED: D2 Law Group PL, Tampa

PLANS, DESCRIPTION: An affiliate of Tampa-based MVP Restaurant Partners LLC purchased 1.5 acres of commercial-intensive zoned land on U.S. 41 for $1.35 million.

The price equated to $877,846 per acre. That figure is in line with the two-year average price per acre for retail land ($893,571) in the Tampa Bay area, according to the CoStar Group.

MVP Restaurant Partners purchased the land as the site of a future PDQ restaurant location. The chicken restaurant chain already operates seven restaurants in Florida and North Carolina. The Sarasota restaurant is scheduled to open this summer.

The chain also has new restaurants scheduled to open around that same time in West Palm Beach and Wake Forest and Cary, N.C.

MVP Restaurant Partners, led by the founders of Outback, also owns the Lee Roy Selmon's restaurant chain and the auto repair chain Carsmetics.

Calls to MVP Restaurant Partners for comment were not returned prior to deadline.