O.E. Wheel Distributors buys its Centre Park building

BUYER: 7205 East LLC (principals: James Moore and Lance Bullock), Sarasota
SELLER: Rucha LLC
PROPERTY: 7205 E. 22nd St., Sarasota
PRICE: $1 million
LAW FIRM ON DEED: Berlin-Patten PLLC, Sarasota

PLANS, DESCRIPTION: An affiliate of Sarasota-based O.E. Wheel Distributors purchased a 15,200-square-foot distribution building in Centre Industrial Park for $1 million.

The price equated to $66 per square foot. That figure is higher than the two-year average price per square foot for industrial space ($46) in the Tampa Bay area, according to the CoStar Group.

O.E. Wheel has been leasing the 6-year-old building prior to negotiating an agreement to buy it.

Loyd Robbins of Harry E. Robbins Associates Inc. handled the transaction.

O.E. Wheel designs, manufactures and sells tires and wheels.

Purchase entity 7205 East LLC mortgaged the property to the seller Rucha LLC for $975,000