Tampa investors buy land near planned Bass Pro project

BUYER: OS Realty LLC (principals: Darren Howard and Bryan Schultz), Tampa

SELLER: Behto LLC

PROPERTY: a portion of South Falkenburg Road north of Causeway Boulevard (County Road 676) west of Interstate 75, Brandon

PRICE: $1.75 million

PREVIOUS PRICE: $6.5 million, December 2005

LAW FIRM ON DEED: Law Firm of Trenam Kemker, Tampa

PLANS, DESCRIPTION: Former NFL defensive end and Tampa entrepreneur Darren Howard and Bryan Schultz, a Tampa developer and broker with Ocean Bleu Group, purchased 4.65 acres on Falkenburg Road for $1.75 million.

The price equated to $376,344 per acre. That figure is less than the two-year average price per acre for retail land ($893,571) in the Tampa Bay area, according to the CoStar Group.

Schultz says the partners are still considering their options for the property including building the parcels for tenants or selling them.

The property is south of a proposed retail development led by David Verardo and anchored by a more than 140,000-square-foot Bass Pro Shops Outdoor World store. In February, Hillsborough County commissioners approved changes to a development plan allowing the developer to build up to 200,000 square feet of additional retail space — up to 350,000 square feet — and approved $6.25 million in road construction reimbursements.

The purchase entity OS Realty LLC mortgaged the property to 551 Properties LLC for $1.75 million.