New York investment firm buys, leases back Gulf Coast Surgery buildings

BUYER: Broadstone GCSC Florida LLC (Broadstone Net Lease LLC), Rochester, N.Y.
SELLER: Roland Askins Jr. as trustee of the 4937 Trust Dated October 22, 2001
PROPERTY: 4937 Clark Road, Sarasota
PRICE: $9.83 million
PREVIOUS PRICE: $1 million, November 2001

SELLER: Gulfcoast Surgery Center Inc.
PROPERTY: 4947 Clark Road, Sarasota
PRICE: $5.15 million
PREVIOUS PRICE: $650,000, October 2001

SELLER: Roland Askins Jr. as trustee of the 865 Trust Dated October 22, 2001
PROPERTY: 865 S. Indiana Ave., Englewood
PRICE: $1.02 million
PREVIOUS PRICE: $330,000, February 2003
LAW FIRM ON DEED: Baker Donelson Bearman Caldwell & Berkowitz PC, Orlando

PLANS, DESCRIPTION:
Rochester, N.Y.-based Broadstone Real Estate LLC purchased two adjacent medical office buildings on Clark Road and a third building in Englewood for $16 million.

The price equated to $341 per square foot. That figure is higher than the two-year average price per square foot for office space ($115) in the Tampa Bay area, according to the CoStar Group.

The Clark Road properties included a 23,950-square-foot building and a 17,864-square-foot building. Both of the Clark Road structures were built in 2002, while the smaller Englewood building was constructed in 1985.

Gulf Coast Surgery Center Inc. previously used all three of the buildings. On Feb. 21, Broadstone Real Estate leased the buildings back to Gulf Coast Surgery Center in a 20-year lease.

Created in early 2006, Broadstone Real Estate is a private real estate investment that looks to acquire properties held by national or high-credit tenants. The company currently owns 173 properties in 26 states.