Sperry Van Ness adviser Conway developing Clark Road Starbucks

BUYER: Venti Holdings LLC (principal: Clint Conway), Sarasota
SELLER: JRN Inc.
PROPERTY: 5825 Derek Ave., Sarasota
PRICE: $899,000
PREVIOUS PRICE: $915,000, August 2007
LAW FIRM ON DEED: David H. Rosenberg PL, Sarasota

PLANS, DESCRIPTION: Clint Conway of Sperry Van Ness Commercial Advisory Group purchased a 2,712-square-foot former KFC restaurant on Clark Road for $899,000.

The price equated to $331 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.

Conway has started renovating the building to convert it into a Starbucks coffeehouse with an atrium and drive-thru.

“I work very closely with the real estate managers at Starbucks, so I know where they want to be,” Conway says. “They're relocating some of their cafe stores.”

The Starbucks is scheduled to open by mid-February.

The purchase entity, Venti Holdings LLC, mortgaged the property to Möbius Realty Fund LLC for $1 million.